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


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.