Dick’s Sporting Goods Inc DCS Stocks fell alongside several other retailers on Wednesday target corp TGT announced worse than expected results.
According to data from Benzinga Pro, Target reported first-quarter earnings of $2.19 per share, which missed an estimate of $3.07 per share.
Operating profit margin was also below expectations at 5.3% in the first quarter, compared to 9.8% in 2021, due to pressure on gross margin reflecting measures to reduce excess inventory and higher freight and transportation costs.
Related Link: “We Had Unexpectedly High Expenses”: Why Target Stock is Falling Today
Dick’s Sporting Goods is scheduled to report its first quarter financial results before the market opens on May 25.
DKS price campaign: Dick’s Sporting Goods shares hit fresh 52-week lows on Wednesday.
The stock is down 11.8% at $81.54 at press time.
Photo: Mike Mozart from Flickr.
