Sporting goods retailers tumble on Dick's dour forecast

Sportsmans Warehouse Holdings

25/05/2022 14:00

** Shares of sporting goods retailers drop premarket after
Dick's Sporting Goods  DKS.N  slashes full-yr outlook
    ** DKS sliding >12% before the bell after co forecasts 2022
adj EPS of $9.15-$11.70 vs prior $11.70-$13.10 range, citing
"the impact of evolving macroeconomic conditions"  urn:newsml:reuters.com:*:nL3N2XH2CA
 urn:newsml:reuters.com:*:nPn5pV1y0a
    ** Expected 2022 same-store sales drop of 2%-8% worse than
previous flat to 4% decline outlook
    ** Academy Sports and Outdoors  ASO.O  drops ~10%, while Big
5 Sporting Goods  BGFV.O  falls ~7% and Hibbett Inc  HIBB.O  off
6% ahead of its Q1 report due on Fri
    ** Shares of Vista Outdoor Inc  VSTO.N , which earlier this
month said it plans to spin off its outdoor products business
from ammunition segment, off 0.4% premarket  urn:newsml:reuters.com:*:nL2N2WX0S7
    ** U.S. retailers' stocks have been beaten down recently as
inflation-induced profit hits unnerve investors  urn:newsml:reuters.com:*:nL3N2XB2ML
 urn:newsml:reuters.com:*:nL2N2XC1F7
    ** SPDR S&P Retail ETF  XRT.P  has fallen 13.5% over past
week, extending YTD decline to 34.5%

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))