DIRS.INFO The most relevant business & tech news

☆ The main reasons retailers are posting weaker profits this year have nothing to do with theft
▼ + stars: | 2023-09-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

A growing number of retailers are blaming retail theft for hurting their profits this year. Estimates say inventory shrink will exceed $100 billion for 2023, with over a third due to external theft. Inventory shrink is an accounting term that refers to several reasons merch goes missing, including damage, managerial errors, and, most conspicuously, theft. Dick's Sporting Goods cited an "alarming" rise in retail crime as responsible for one-third of the decline in merchandise profits for the last quarter. CFO Navdeep Gupta said the surprisingly high inventory losses were discovered as a result of the company's annual inventory audit.

Persons: merch, Lowe's, Brian Cornell, Navdeep Gupta, Dick's, — Organizations: Service, National Retail, CNBC, Dick's Sporting Goods, Cornell, Dick's, Goods Locations: Wall, Silicon

☆ Britain faces 'epidemic' of shoplifting as Primark profits hit
▼ + stars: | 2023-09-12 | by ( James Davey | ) www.reuters.com time to read: +2 min

Sadly, in the last year we've seen twice as many offences," Sharon White, chair of the John Lewis Partnership that owns department stores and Waitrose supermarkets, told BBC Radio. Weston said some of the theft was "quite organised" and Primark was also seeing higher levels of anti-social behaviour. His comments echo those of Tesco (TSCO.L) CEO Ken Murphy, who earlier this month said Britain's biggest supermarket chain was offering body-cams to staff who need them. Murphy also called for a change in the law to make abuse and violence towards retail workers a specific offence in Britain. Target (TGT.N), Foot Locker (FL.N) and Dick's Sporting Goods (DKS.N) have all warned that profits have been under pressure from loss of inventory due to theft at their stores.

Persons: John Lewis, It's, we've, Sharon White, White, shoplifters, George Weston, Weston, Primark, Ken Murphy, Murphy, James Davey, Mark Potter Organizations: Police, Foods, John Lewis Partnership, Waitrose, BBC Radio, British Foods, Crown Prosecution Service, Reuters, Tesco, Dick's Sporting, Thomson Locations: Britain, United States

There's co-owner Denny Hamlin, who has won at the track four times, more than anyone else. Political Cartoons View All 1148 ImagesHamlin got a poor jump on the last restart, couldn't chase Reddick down and finished second. Then the bottom lane opened up there and it was crazy.”Even crazier: It was the third win for the No. 45 car of 23XI in the last four races at Kansas , and all with different drivers after Busch and Wallace won last year. Its owner, meanwhile, nearly pulled off the sweep after Hamlin won in the spring.

Persons: Tyler Reddick, There's, Denny Hamlin, Kurt Busch, Bubba Wallace, Reddick's, Billy Scott, ”, Reddick, Hamlin, couldn't, Erik Jones, Kyle Larson, Joey Logano, “, ” Reddick, Wallace, Joe Gibbs, It's, ” Hamlin, Chris Buescher, — Reddick, Martin Truex, Larson, Brad Keselowski, Chase Elliott, Elliott, Buescher, Logano, WHO’S, Truex, Kevin Harvick, Christopher Bell Organizations: KANSAS CITY, Kan, 23XI, Kansas Speedway, Kansas, NASCAR, Darlington, Busch, Bristol, Keselowski, Team Penske, RFK Racing, Daytona, Truex Locations: KANSAS, Denny, Kansas, Bristol, Talladega

☆ How much are retailers losing to shrink and theft? In many cases, it's not the main drag on profits
▼ + stars: | 2023-09-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

During second-quarter earnings reports in August and September, nearly two dozen retailers said shrink has continued to weigh on profits. During its second quarter earnings call with analysts, the company said shrink was in line with the year-ago period. Over the last few quarters, more and more retailers have called out shrink as a drain on profits and blamed theft for those losses. Others that loosely blame shrink and theft for plummeting profits without providing much more explanation may be trying to obfuscate internal issues, said Lapinsky. Contrary to other retailers, shrink was the largest drag on Ulta's earnings during fiscal 2022, according to a securities filing.

Persons: Lindsey Nicholson, Dick's, Ulta, Sonia Lapinsky, AlixPartners, that's what's, Macy's, CNBC's Courtney Reagan, Jeff Gennette, Gennette, TJX, John Klinger Organizations: Walgreens, Universal, Getty, CNBC, Target, Dick's Sporting Goods, Walmart, Lowe's Locations: Queens , New York

☆ How Tractor Supply managed to shrink theft rates when they're surging almost everywhere else
▼ + stars: | 2023-09-07 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Tractor Supply Co.'s CEO says retail crime is a major problem, but his company is bucking the trend. He revealed four factors that have helped Tractor Supply see lower rates of inventory shrink this year. AdvertisementAdvertisementIf it costs a lot at Tractor Supply, it's probably also heavy. "You basically get greeted and you're checked out right in the front of our store," Lawton said. Hard-to-steal merchandiseOf course, the types of products that Tractor Supply sells — livestock feed, gun safes, truck boxes, etc.

Persons: Jahi, Hal Lawton, Lawton, it's, Dominick Reuter, Jason Aldean Organizations: Target, Tractor Supply, Service, Dick's Sporting Goods, National Retail Federation, Giant Food, Washington, Getty, Tractor, Home, eBay, Retail Industry, Association, Supply, Costco Locations: Wall, Silicon, Macy's

☆ We met dumpster diving 14 years ago and now make up to $3,000 a month selling our trash treasures
▼ + stars: | 2023-09-06 | by ( Grace Mayer | ) www.businessinsider.com time to read: +8 min

They now make up to $3,000 per month from dumpster diving, and post their dives on TikTok. AdvertisementAdvertisementWe make between $2,000 and $3,000 a month selling our dumpster dive trash treasures. But it's still rare that we see somebody else dumpster diving at the spots we go to in Buffalo. When some people hear the term "dumpster diving," they sometimes picture a rat-infested dumpster covered in food, or that we're digging through household trash. We view our dumpster diving efforts, particularly selling scrap metal to scrap yards, as "carbon credits" that offset the carbon emissions from our next plane flights.

Persons: David, Erin Sheffield, David Sheffield, we're, It's, We've, Joe's, Erin, we've, — Organizations: Service, University at Buffalo, Walmart, Foods, Aldi, Body Works, Dick's Sporting Goods, Erin Sheffield Garage, eBay, Facebook, Body Locations: Wall, Silicon, Buffalo , New York, France, dumpsters, Norway, Mexico, TikTok, Buffalo

Third seed Daniil Medvedev once again worked the U.S. Open graveyard shift on Saturday, beating in-form Sebastian Baez 6-2 6-2 7-6(6) to end the Argentine's 12 match winning streak. Against the 26th seeded Evans the 20-year-old Spaniard mixed moments of brilliance with lapses in focus but was never really threatened on his way to 6-2 6-3 4-6 6-3 win. Top seeded Briton, number 16 Cameron Norrie, was dumped out 6-3 6-4 6-3 by Italian Matteo Arnaldi while American Peyton Stearns pushed the last British woman Katie Boulter to the exit with a 6-4 6-3 victory. Joining Pegula were 2017 finalist Madison Keys, a 5-7 6-2 6-2 winner over 14th seed Liudmila Samsonova, Stearns and sixth seed Coco Gauff, who booked her spot on Friday with a win over Elise Mertens. Reporting by Steve Keating and Amy Tennery in New York, editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Spain's Carlos Alcaraz, Britain's Daniel Evans, Shannon Stapleton, Carlos Alcaraz aced, women's, Aryna Sabalenka, France's Clara Burel, Arthur Ashe, Czech Marie Bouzkova, Jabeur, Bouzkova, Daniil Medvedev, Sebastian Baez, Medvedev, Christopher O'Connell, Roger Federer, Evans, Alcaraz's, Jack Draper, Michael Mmoh, Draper, Winston, Cameron Norrie, Matteo Arnaldi, Peyton Stearns, Katie Boulter, Jessica Pegula, Ukraine's Elina Svitolina, Pegula, Madison Keys, Liudmila Samsonova, Stearns, Coco Gauff, Elise Mertens, Pete Sampras, Serena Williams, Taylor Fritz, Frances Tiafoe, Tommy Paul, Ben Shelton, Sloane Stephens, Keys, Andy Roddick's, Jannik, Stan Wawrinka, Alexander Zverev, Bulgarian Grigor Dimitrov, Steve Keating, Amy Tennery, Lincoln Organizations: Tennis, Britain's Daniel Evans REUTERS, U.S, Czech, American, Bulgarian, Thomson Locations: Flushing Meadows , New York, United States, U.S, New York, Salem, British, Flushing, Flushing Meadows

☆ Lululemon raises annual forecasts for second time on buoyant demand
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Aug 31 (Reuters) - Lululemon Athletica (LULU.O) lifted its annual sales forecast for a second time on Thursday, betting on steady demand for its activewear from affluent shoppers in North America and China. Like industry peer Hibbett (HIBB.O), Lululemon has also been launching new products such as "road-to-trail" running shoes and introducing new colors in its sports apparel in a bid to attract more customers to shop at its stores. The company now expects full-year 2023 revenue between $9.51 billion and $9.57 billion, compared with its prior estimate of $9.44 billion to $9.51 billion. Lululemon now expects annual profit between $12.02 and $12.17 per share, compared with its prior estimate of $11.74 to $11.94 per share. Reporting by Granth Vanaik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Hibbett, Lululemon, Granth, Maju Samuel Organizations: Nike, Dick's Sporting, Thomson Locations: North America, China, Bengaluru

☆ How Best Buy is winning the war against retail theft
▼ + stars: | 2023-08-30 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +4 min

But Best Buy said Tuesday that theft at its stores has remained relatively stable. On Tuesday's call, Barry rattled off a list of strategies that she said has helped Best Buy combat theft. Best Buy employs security workers at store entrancesBarry said Best Buy employs asset-protection employees at its front doors. Best Buy stores have one entrance and few self-checkout registersBarry highlighted other features of Best Buy's stores as theft deterrents. Best Buy is locking away some merchandiseBarry said Best Buy has started removing some items from the sales floor that could be prime targets for thieves.

Persons: —, Corie Barry, Dick's, Barry, Matt Kelley, Richard Galanti, we've Organizations: Walmart, Service, Dick's Sporting Goods, Costco, LiveView Technologies Locations: Wall, Silicon

☆ A mixed picture for retailers as bargain-hunting shoppers pick their spots
▼ + stars: | 2023-08-29 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

A sale sign greets shoppers at a retail store in Carlsbad, California, U.S., May 25, 2023. Sephora "performed exceptionally well" with strength in North America in the first half of the year, the beauty retailer's owner LVMH (LVMH.PA) said last month. Retailers have also flagged the impact from Americans prioritizing experiences like movies, vacations and concerts over discretionary purchases. Tempered forecasts from sportswear retailers Foot Locker (FL.N) and Dick's Sporting Goods (DKS.N) also added to the mixed picture, with Dick's also citing an increase in organized retail crime and theft at stores. Reporting by Deborah Sophia in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, Edward Jones, Brian Yarbrough, LVMH, Yarbrough, Dick's, Corie Barry, Liza Amlani, We've, Christina Hennington, Deborah Sophia, Sriraj Organizations: REUTERS, Ross Stores, Walmart, Dick's Sporting, Electronics, U.S . Labor Department, Thomson Locations: Carlsbad , California, U.S, North America, Bengaluru

☆ Theft has become such a nightmare for Dollar Tree and Family Dollar stores that they're going to lock up some items and simply stop selling others
▼ + stars: | 2023-08-25 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Theft is becoming a mounting problem at Dollar Tree and Family Dollar stores. At Dollar Tree, shrink costs increased 0.75% in the quarter to July 29 year-over-year. At Family Dollar, shrink costs were up 0.45%. As of late July, Dollar Tree, Inc owned just under 16,500 stores, with around half Dollar Tree and half Family Dollar. Execs said at May's call that measures to help improve shrink levels included defensive merchandising, store closures, and local government action.

Persons: Rick Dreiling, Dreiling, Execs, Brian Cornell, Jeff Davis, Davis, We'll Organizations: Service, Inc, Dick's Sporting Goods Locations: Wall, Silicon

☆ Nordstrom tops revenue estimates on resilient demand from affluent shoppers
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Aug 24 (Reuters) - Nordstrom (JWN.N) beat expectations for quarterly revenue on Thursday, benefiting from steady demand from affluent shoppers at a time when still-high inflation is forcing consumers to rethink their non-essential purchases. Net sales in its eponymous stores dropped 10.1%, while Nordstrom Rack posted a 4.1% decrease, both improving sequentially from the first quarter. Reuters Graphics Reuters GraphicsTo get shoppers, Nordstrom has also been opening more Rack stores, which represents the largest source of new customers, according to the company. Total revenue fell about 8% to $3.77 billion in the second quarter ended July 29, but topped expectations of $3.65 billion, according to Refinitiv data. Still, Nordstrom joined rival department store chains in maintaining its annual targets.

Persons: Nordstrom, Granth, Maju Samuel Organizations: Nordstrom, Dick's Sporting, Nike, Reuters Graphics Reuters, Thomson Locations: Bengaluru

☆ Retail's turnaround is being pressured by the lower income consumer, says Jane Hali & Associates
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRetail's turnaround is being pressured by the lower income consumer, says Jane Hali & AssociatesJessica Ramirez, Senior Research Analyst at Jane Hali & Associates, discusses the dip in several retail stocks this week, including Dick's Sporting Goods, Macy's, and Foot Locker.

Persons: Jane Hali, Jessica Ramirez, Locker Organizations: Associates, Dick's Sporting Goods

☆ Foot Locker plummets, drags down peers, on forecast cut, dividend pause
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

The Foot Locker store in Broomfield, Colorado is seen on November 17, 2016. The athletic-wear retailer also missed expectations for quarterly sales, said it would pause its dividend payouts and flagged softer demand in July, which is typically when back-to-school shopping starts. The shares of the company's larger rivals Nike (NKE.N), Dick's Sporting Goods (DKS.N) and Under Armour fell between 2% and 4% in premarket trade. Foot Locker's warnings kept the pressure on sportswear retailers after they tumbled on Tuesday when Dick's Sporting Goods also cut its full-year profit targets, slammed by hits to its margins from retail theft. Foot Locker also said its quarter was hit by inventory shrink, or retail theft, and steeper discounts.

Persons: Rick Wilking, Mary Dillon, Armour, Locker, Juveria Tabassum, Savio D'Souza Organizations: REUTERS, Nike, Dick's Sporting, Adidas, Puma, Dick's Sporting Goods, Thomson Locations: Broomfield , Colorado

☆ Cramer sees opportunity in Dick's Sporting Goods, despite a rough quarter
▼ + stars: | 2023-08-23 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

While CNBC's Jim Cramer acknowledged Dick's Sporting Goods reported a rough quarter, he thinks Wall Street's reaction was a little extreme. The company's stock tumbled a little over 24% during Tuesday's session. Dick's reported $2.82 earnings per share, significantly less than the $3.81 per share that analysts expected, according to Refinitiv. He said he thinks Dick's new app GameChanger could be a boon for the company. For example, at one of Dick's House of Sport locations in Minnesota, they had a focus on fishing equipment."

Persons: Jim Cramer, Cramer, Dick's, Lauren Hobart Organizations: Sporting Goods, Revenue, Dick's Locations: Refinitiv, Minnesota

[1/2] The Macy's logo is displayed on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 19, 2021. A bellwether for back-to-school demand, Foot Locker joined rival Dick's Sporting Goods (DKS.N) on Wednesday to cut annual profit forecast, sending the shares of sportswear retailers tumbling. "We did see a softening in trends in July and are adjusting our 2023 outlook to allow us to best compete for price-sensitive consumers," Foot Locker CEO Mary Dillon said. Walmart last week raised its full-year forecasts and beat second-quarter results, benefiting from strong demand for its low-priced groceries. Reporting by Ananya Mariam Rajesh and Aishwarya Venugopal in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Cristina Fernandez, Foot Locker, Mary Dillon, Macy's, Adrian Mitchell, Locker, Thomas Hayes, Hogan, Ananya Mariam Rajesh, Aishwarya Venugopal, Arun Koyyur Organizations: New York Stock Exchange, REUTERS, Dick's Sporting, Target, Walmart, Riley Wealth, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Nike falls for record 10th straight day as Foot Locker woes, China slowdown hit stock
▼ + stars: | 2023-08-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Nike's stock tumbled Wednesday for the 10th day in a row after Foot Locker reported dismal quarterly results and consumers continue to pull back from the footwear sector. "This became much more evident through the second quarter including a weaker start to back to school. The store traffic and conversion challenges we began to see in late Q1 persisted through the second quarter as our customer remained cautious with their discretionary dollars," she said. China's uneven recovery could also be weighing on Nike's stock. However, it's unclear if that growth is continuing and what the results will look like when Nike next reports earnings.

Persons: Foot Locker, We've, Rick Patel, Raymond James, There's, We're, Foot, Patel, Locker, Mary Dillon, John Donahoe Organizations: Nike, CNBC, Dick's Sporting Goods, StreetAccount Locations: U.S, China

☆ Stocks making the biggest moves midday: Nvidia, Peloton, Foot Locker, Dick's Sporting Goods and more
▼ + stars: | 2023-08-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nvidia has been one of the biggest winners on the back of the AI boom with shares rising nearly 220% this year. Peloton reported a loss of 68 cents per share, versus the 38-cent loss per share expected by analysts polled by Refinitiv. Foot Locker — The athletic retailer plunged 33% after cutting its outlook again for the year and suspending its quarterly dividend. Advanced Auto Parts — Advance Auto Parts rose 1% after beating analysts' revenue expectations for its second quarter. The auto retail company reported revenue of $2.69 billion, greater than the consensus estimate of $2.66 billion, according to Refinitiv.

Persons: Locker, Fitch, Abercrombie, Charles Schwab —, Schwab, Oppenheimer, Brown, Forman —, Morgan Stanley, Avery Dennison, Davidson, Safehold, Goldman Sachs, Goldman, it's, Shane O'Kelly, — CNBC's Hakyung Kim, Samantha Subin, Yun Li, Sarah Min, Jesse Pound Organizations: Nvidia, Refinitiv . Revenue, Dick's, Goods, Abercrombie, Pharmaceuticals, Nike —, Urban Outfitters, Refinitiv, Revenue, Netflix, Bank of America, UBS, DA, Marvell Technology, Susquehanna Locations: Louisiana, Pacific

☆ Bank of America downgrades Dick's Sporting Goods after worst day on record
▼ + stars: | 2023-08-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Things aren't looking good for Dick's Sporting Goods , and Bank of America thinks investors need to steer clear of the athletics apparel. The stock plunged 24.1% on Tuesday — its biggest one-day drop on record — on weaker-than-expected second-quarter results. Dick's also cut its guidance for the year amid a rise in retail theft and sluggish sales in its outdoor segment. DKS 5D mountain Dick's Sporting Goods shares "Post 2Q results, we see increased risks to DKS sales & margin outlook," analyst Robert Ohmes said in a Wednesday note, adding that there are "risk[s] of further inventory action in 2H." To be sure, the analyst believes Dick's "near-term headwinds are partially offset by compelling valuation."

Persons: Dick's, Robert Ohmes, Ohmes, Armour, — CNBC's Michael Bloom Organizations: Dick's Sporting Goods, Bank of America, Sporting Goods, Nike, adidas, exclusives

☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Dick's, Meta, Amazon, Charles Schwab & more
▼ + stars: | 2023-08-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Deutsche Bank reiterates Charles Schwab as buy Deutsche said it sees an even "more" attractive risk/reward for Schwab shares after Tuesday's sell-off. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple has "surpassed MSFT as the most under-owned large-cap tech stock exiting the second-quarter." Bank of America reiterates Meta as buy Bank of America said it sees more upside for shares of Meta. Bank of America reiterates Five Below as buy Bank of America said it's standing by shares of the discount retailer. Bank of America downgrades Dick's to neutral from buy Bank of America downgraded the stock after its disappointing earnings report Tuesday.

Persons: Charles Schwab, Schwab, SCHW, Wells Fargo, Wells, Morgan Stanley, Apple, Oppenheimer, Brown, Forman, GM headwinds, Edward Jones, DUK, Avery Dennison, Davidson, Goldman Sachs, Goldman, Susquehanna, Marvell Organizations: Deutsche Bank, Deutsche, Signet, Netflix, GM, Edward, Bank of America, Meta, Barclays, Duke Energy, JPMorgan, UBS, " Bank of America, Infosys, India IT, Marvell Locations: AAPL, 4Q23, Louisiana, Pacific, LPX, India

☆ Dicks reported a bad quarter but it didn't deserve to drop nearly 25%, says Jim Cramer
▼ + stars: | 2023-08-23 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

'Mad Money' host Jim Cramer talks Dick's Sporting Goods' recent decline after reporting a disappointing quarter. Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email

Persons: Jim Cramer Organizations: Sporting Goods

☆ Dick's Sporting Goods stock on track for its worst day ever
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDick's Sporting Goods stock on track for its worst day everShort Hills Capital's Steve Weiss joins 'Halftime Report' to discuss why Dick's Sporting Goods is performing poorly today, Dick's reporting an earning's revenue miss and increases in inventory loss due to looting.

Persons: Steve Weiss Organizations: Goods, Sporting Goods

☆ Dick's Sporting shares slide as costs, inventory shrink slam annual profit outlook
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - Dick's Sporting Goods shares (DKS.N) slumped as much as 24.5% on Tuesday as the footwear retailer slashed its full-year profit target after missing expectations for the second quarter. A shopper browses merchandise at a Dick's Sporting Goods store in Collegeville, Pennsylvania U.S. November 20, 2020. REUTERS/Mark Makela Acquire Licensing RightsRetailers including Dick's Sporting Goods have been trying to find ways to cut costs as margins take a hit from soaring supply chain and labor expenses. On an adjusted basis, the company expects to earn $11.50 per share to $12.30 per share for the full year. Dick's shares were trading at $111.14 and dragged shares of rival retailers.

Persons: Mark Makela, Lululemon, Armour, Foot, Juveria, Eileen Soreng Organizations: Sporting Goods, Dick's Sporting, Collegeville , Pennsylvania U.S, REUTERS, Dick's Sporting Goods, Nike, Thomson Locations: United States, Collegeville , Pennsylvania

☆ Stocks making the biggest moves premarket: Dick's Sporting Goods, Fabrinet, Macy's, AppLovin and more
▼ + stars: | 2023-08-22 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

The advanced manufacturing services company posted non-GAAP earnings of $1.86 per share, greater than the $1.80 earnings per share expected by analysts polled by FactSet. The company reported per-share earnings of 26 cents, greater than the 14 cents earnings per share consensus estimate from FactSet. It guided for revenue from $4.75 billion to 4.85 billion, lower than the $4.86 billion expected by analysts. The home improvement company reported $4.56 earnings per share, greater than the $4.47 expected by analysts polled by FactSet. Zoom's earnings guidance for the third quarter and the full year also topped expectations.

Persons: Fabrinet, Jefferies, Nordson, Macy's, Lowe's, Marvin Ellison, — CNBC's Michelle Fox, Alex Harring, Jesse Pound Organizations: FactSet . Revenue, Dick's, Refinitiv, FactSet, Revenue, Emerson, JPMorgan Locations: Revenue, FactSet

☆ Dick's Sporting Goods plunges 25% after it says retail-theft crime wave lowered profits
▼ + stars: | 2023-08-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Dick's Sporting Goods plunged 25% on Tuesday after the company revealed weak second-quarter earnings. The retailer said it saw a decline in profits due to increased shrinkage, which is code for retail theft. The mention of theft hurting its business was a first for Dick's Sporting Goods, and it took analysts by surprise. AdvertisementAdvertisementDick's Sporting Goods was a darling retail stock that has seen strong performance since the COVID-19 pandemic began in March 2020. Part of the strength in Dick's Sporting Goods stock in recent years was driven by an increase in business as consumers got out of their house and more active as the pandemic subsided.

Persons: Lauren Hobart, Lauren Hobard, Target, Ed Stack, Goldman Sachs, Kate McShane, Wells, Will Gaertner Organizations: Sporting Goods, Service, Walgreens, Target, Dick's Sporting Goods, Sporting, Goods Locations: Wall, Silicon

Search resuls for: "DICK's"

25 mentions found