BUZZ-Dick's Sporting Goods drops on bleak annual revenue

Reuters08-29
BUZZ-Dick's Sporting Goods drops on bleak annual revenue

** Shares of footwear retailer Dick's Sporting Goods DKS.N fall as much as 6.6% to $211.10

** Stock set for its worst day in over three months, if losses hold

** Co raises annual revenue forecast to a range of $13.75 billion to $13.95 billion, from prior target of $13.6 billion to $13.9 billion, but still below estimates of $14 billion, as per data compiled by LSEG

** Says outlook assumes impact of current tariffs and excludes one-time items related to its acquisition of Foot Locker FL.N

** DKS expects to close the pending acquisition of Foot Locker, announced in May, on September 8

** Including session's moves, stock down 5% YTD

(Reporting by Anshi Sancheti in Bengaluru)

((Anshi.Sancheti@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment