Dick’s Sporting Goods Stock Plunges as It Cuts Earnings Outlook. Theft Is a Problem.

Dick’s Sporting Goods stock fell sharply Tuesday after the retailer cut its outlook for annual profits due to a loss in inventory and posted a disappointing earnings report.

The company on Tuesday reported $2.82 per share in adjusted profit for the second fiscal quarter, which ended in July, on sales of $3.22 billion. Analysts tracked by FactSet were expecting $3.81 per share on $3.24 billion.The company said its second quarter-results were affected by “inventory shrink,” which refers to the loss of inventory due to factors such as employee theft, shoplifting, and others.

Dick’s reduced its outlook for full-year adjusted profits to $11.50 to $12.30 per share, compared with previous guidance of $12.90 to $13.80.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

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.
แหล่ง: MarketWatch - 🏆 3. / 97 อ่านเพิ่มเติม »

Asian Stock Market: Most stock markets rise on technology stocks recoveryThe Asian stock markets experienced an uptick on Tuesday propelled by the rebound of technology stocks. However, concerns regarding the tightening of
แหล่ง: FXStreetNews - 🏆 14. / 72 อ่านเพิ่มเติม »

Dick’s Sporting Goods’ stock slammed premarket after earnings miss by a wide margin amid uptick in shopliftingDick’s Sporting Goods Inc.’s stock tumbled 19% in premarket trade Tuesday, after the retailer’s second-quarter profit missed consensus by a wide margin,...
แหล่ง: MarketWatch - 🏆 3. / 97 อ่านเพิ่มเติม »