Why Dick’s Sporting Items Inventory Is Falling


Dick’s Sporting Goods Inc DCS Shares are trading lower on Wednesday morning after the company reported financial results and issued weak guidance.

Dick’s said first-quarter revenue fell 7.5% to $2.7 billion, beating an estimate of $2.59 billion, according to data from Benzinga Pro. The company reported adjusted quarterly earnings of $2.85 per share, beating the estimate of $2.47 per share.

“Over the past two years we have demonstrated our ability to skilfully navigate the pandemic and other challenges – and we are confident in our ability to continue to adapt quickly and act amid uncertain macroeconomic conditions,” he said Lauren HobartPresident and CEO of Dick’s.

Dick’s expects full-year 2022 adjusted earnings to be between $9.15 and $11.70 per share. Comparable store sales are expected to be between minus 8% and minus 2%.

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DKS price campaign: Dick’s shares marked new 52-week lows on Wednesday.

The stock is down 14.1% at press time to $61.19.

Photo: Mike Mozart from Flickr.