Dick’s Sporting Goods’ stock slammed premarket after earnings miss by a wide margin amid uptick in shoplifting

Dick’s Sporting Goods Inc.’s stock DKS, +0.29% tumbled 19% in premarket trade Tuesday, after the retailer’s second-quarter profit missed consensus by a wide margin, while sales also fell short. Pittsburgh-based Dick’s posted net income of $244 million, or $2.82 a share, for the quarter, down from $19 million, or $3.25 a share, in the year-earlier period. Adjusted per-share earnings also came to $2.82, below the $3.81 FactSet consensus. Sales rose 3.6% to $3.224 billion from $3.

“While we posted another double-digit EBT margin, our Q2 profitability was short of our expectations due in largepart to the impact of elevated inventory shrink, an increasingly serious issue impacting many retailers,” said CEO Lauren Hobart in a statement. “Despite moderating our 2023 EPS outlook, the enthusiasm we have for our business and the confidence we have in ourlong-term growth opportunities have never been stronger.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Dick’s Sporting Goods announces hundreds of layoffs ahead of earningsRetailer Dick's Sporting Goods has cut hundreds of corporate jobs ahead of its quarterly earnings release Tuesday.
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

Netflix Inc. stock outperforms market on strong trading dayShares of Netflix Inc. inched 0.93% higher to $408.29 Monday, on what proved to be an all-around mixed trading session for the stock market, with the S&P 500...
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

Tesla Inc. stock rises Monday, outperforms marketShares of Tesla Inc. rose 7.33% to $231.28 Monday, on what proved to be an all-around mixed trading session for the stock market, with the NASDAQ Composite...
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »