Dick’s Sporting Goods stock was "slumping" this afternoon after "downbeat guidance overshadowed" the retailer’s Q4 earnings report earlier today. Athletic and "‘athleisure’ apparel have been a bright spot in retail, but Dick’s -- like so many bricks-and-mortar peers -- has struggled in recent years to fend off online competition." Still the sporting goods "category overall is still healthy." Despite today's decline, DSG shares "have still climbed nearly 10% since the start" of '19 (BARRONS.com, 3/12). At presstime, shares of DSG were trading at $34.72, down 10.88% (THE DAILY).
Meanwhile, Under Armour shares fell today after DSG "announced plans to launch its own private label athletic apparel brand." DSG Chair & CEO Edward Stack said that the retailer is "dropping a licensing agreement with Reebok and launching its new brand in time for the fall back-to-school season." He added that DSG "does not plan to return floor space in its stores that it took away" from UA last year (BIZJOURNALS.com, 3/12). At presstime, shares of UA were trading at $21.82, down 0.93% (THE DAILY).
