Where Will Dick's Sporting Goods Stock Be in 5 Years?
Dick's stock took a hard post-earnings hit recently, but there's still some reason for longer-term optimism.
Overview
On Aug. 25, Dick's Sporting Goods (NYSE: DKS) experienced the biggest one-day decline in its history -- dropping by an eye-popping 30% as Wall Street rapidly lost confidence in the stock. Shareholders are worried about several compounding problems ranging from Dick's recent Foot Locker acquisition to changing consumer preferences.
Let's dig deeper to decide if Dick's recent declines are a chance for long-term investors to buy the dip or a signal to stay far away from the stock.
Details
Dick's latest challenges were revealed in its second-quarter earnings report. On the surface, things might have looked quite good. Net sales jumped 53.2% year over year to $5.59 billion. But this was driven by the recent acquisition of footwear specialist Foot Locker.
Source
Originally published at www.fool.com.