Should This Worry Under Armour and Nike Investors?
Sports retailer Dick's Sporting Goods (NYSE: DKS) released earnings in mid-August, and although sales were up a respectable 9.6%, the reduced outlook for the rest of the year apparently spooked investors as the stock dropped more than 20% that day.
Dick's lowered its full-year same-store sales guidance to be flat to negative from its earlier expectation of 1% to 3% growth. While Nike (NYSE: NKE) and Under Armour (NYSE: UA)(NYSE: UAA) are Dick's biggest suppliers, I'm not worried about them.
Image source: Dick's Sporting Goods
Source: Fool.com
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