Dick’s Sporting Goods’ Core Business Grows 4.9%, but Foot Locker Losses and Weak Guidance Send Shares Tumbling
The company's splashy 2025 acquisition hasn't been looking so impressive lately.
Overview
A double miss on fiscal second-quarter estimates and deep guidance cuts for an important business unit were the key factors crushing Dick's Sporting Goods (NYSE:DKS) stock on Tuesday. Investors were particularly concerned that a recent high-profile acquisition by the sporting goods retailer wasn't nearly as valuable as some had imagined, and they sold the company's shares aggressively.
By the end of the trading day, Dick's stock had declined by more than 30% -- its worst single-session drop on record.
Image source: Getty Images.
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Originally published at www.fool.com.
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