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DKS

Dick's Sporting Goods, Inc. (NYSE:DKS) reported lower than expected Q2 earnings and reduced its FY23 guidance. Sales grew 3.6% Y/Y to $3.22 billion, missing the analyst consensus of $3.23 billion. Adjusted EPS of $2.82, down 23% Y/Y, missed the analyst consensus of $3.81. The company's shares fell 24.2% to close at $111.53 on Tuesday. Several analysts have reduced their price targets for the company's stock.

Portfolio Pulse from Lisa Levin

August 23, 2023 | 11:04 am

IDEX

The board of Ideanomics (IDEX) has approved a reverse stock split of its common stock at a ratio of 1-for-125.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 11:03 am

DKS

B of A Securities analyst Robert Ohmes has downgraded Dick's Sporting Goods (NYSE:DKS) from Buy to Neutral and lowered the price target from $180 to $125.

Portfolio Pulse from richadhand@benzinga.com

August 23, 2023 | 11:01 am

SCSC

Northcoast Research analyst Keith Housum has upgraded ScanSource (NASDAQ:SCSC) from Neutral to Buy.

Portfolio Pulse from richadhand@benzinga.com

August 23, 2023 | 10:58 am

NKE

Nike shares are trading lower in sympathy with Foot Locker, which reported a Q2 revenue miss and lowered its guidance.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:56 am

FL

Foot Locker reported a 9.4% decline in comparable sales, attributing it to ongoing consumer softness, changing vendor mix, and the repositioning of Champs Sports.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:50 am

FL

Foot Locker reported a Q2 revenue miss and an 11% rise in inventories, leading to a drop in its share price. The company also lowered its gross margin guidance due to more aggressive markdowns.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:49 am

FL

Foot Locker's merchandise inventories as of July 29 were $1.8 billion, marking an 11% increase year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:48 am

FL

Foot Locker has revised its 2023 gross margin guidance downwards from 28.6%-28.8% to 27.8%-28.0%, due to more aggressive markdowns.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:47 am

FL

Foot Locker has revised its 2023 sales guidance downwards from a decrease of 6.5-8% to a decrease of 8-9%.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 10:46 am