Dick’s Sporting Goods’ bleak earnings and selloff highlight sneaker demand slump
Dick’s Sporting Goods reported bleak earnings and a record selloff, pointing to older and some newer sneakers lingering on store shelves. Executive Chairman Ed Stack said the issue spread across the footwear-retail landscape, forcing Dick’s and rivals to turn to more aggressive discounts to move inventory.
Coverage (4)
- DICK’S Sporting Goods: Business Generates $485.2 Million Profit While Foot Locker Saw $31.9 Million Segment Loss (pulse2.com)
- Dick’s Sporting Goods’ epic drop hits other footwear giants, as shoppers sour on retro sneakers (marketwatch.com)
- Sneaker Industry Faces ‘Hangover’ as Dick’s Shares Drop 30% (sportico.com)
- Dick's Sporting cuts forecasts as weak sneaker demand trips Foot Locker, shares plunge (reuters.com)