Tag: $Dick’s Sporting Goods

Dick’s Sporting Goods said Thursday it saw a better-than-expected holiday quarter, but the retailer issued weak profit guidance for the year ahead as its acquisition of Foot Locker continues to weigh on its bottom line.

Dick’s Sporting Goods said Thursday it plans to acquire rival Foot Locker as it looks to expand its international presence, win over a new set of consumers and corner the Nike sneaker market.

Dick’s Sporting Goods’ disappointing financial outlook overshadowed strong fiscal-fourth-quarter earnings. Shares are sliding in Tuesday premarket trading.

For its second fiscal quarter ended Aug. 3, the sporting goods retailer reported earnings of $4.37 a share, beating Wall Street’s call for $3.86, according to FactSet.

Shares of Dick’s Sporting Goods were climbing after the sporting goods retailer beat quarterly earnings estimates and boosted guidance.

Dick’s Sporting Goods reported a profit drop and cut its earnings outlook for the year after seeing an uptick in retail theft and slow sales in its outdoor category.

Dick’s Sporting Goods stock rose early Tuesday morning as the company reaffirmed its outlook and beat first fiscal-quarter earnings expectations.