What’s Going On With Dick’s Sporting Items Inventory?

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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.