- Weak guidance from Dick's Sporting Goods (DKS -10.1%), along with some negative comments from analysts following the print, have the entire sporting good sector on edge. The Dick's numbers were alarming enough to push UBS to a rapid-fire downgrade to Hold from Buy.
- The general overriding concerns on the category are that consumer spending trends remain unsteady and online competition (Amazon (NASDAQ:AMZN) and more) continues to hammer away at pricing.
- Notable decliners include Hibbett Sports (HIBB -2.9%), Big 5 Sporting Goods (BGFV -0.4%), Acushnet Holdings (GOLF -0.6%), Cabela's (CAB -0.3%), Sportsman's Warehouse (SPWH -3.1%), Johnson Outdoors (JOUT -0.9%), Vista Outdoor (VSTO -1.2%), Under Armour (UAA -3.2%), Nike (NKE -1.7%), Columbia Sportswear (COLM -0.8%), Finish Line (FINL -2.9%) and Foot Locker (FL -1.8%).
- Previously: Dick's Sporting Goods EPS in-line, misses on revenue (May 16)
- Previously: Dick's plummets after comparable sales fall short (May 16)
Original article