Dick's Sporting Goods Plunges 27% After $5.59 Billion Sales Miss as Footwear Market Stays Challenging
Updated
Updated · CNBC · Aug 25
Dick's Sporting Goods Plunges 27% After $5.59 Billion Sales Miss as Footwear Market Stays Challenging
3 articles · Updated · CNBC · Aug 25
Summary
Dick's Sporting Goods sank more than 27% by midday, deepening an earlier premarket drop and putting the stock on pace for its worst day ever.
Sales of $5.59 billion missed the $5.65 billion analysts expected, with the retailer blaming a "challenging" footwear market for the shortfall.
The selloff made Dick's the sharpest decliner among major midday movers even as several growth names rose, including Moderna, AMD and Marvell.
The move underscores how a relatively small revenue miss can trigger an outsized market reaction when investors are already worried about demand in a key category.
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