Why Dick's Sporting Goods Shares Are Falling Following Nike's Earnings Report

Why Dick's Sporting Goods Shares Are Falling Following Nike's Earnings Report

DICK'S Sporting Goods Inc DKS shares are trading lower by 5.9% to $106.29 Friday afternoon. Shares of retail and apparel companies at large are trading lower in sympathy with Nike Inc NKE, which fell after the company reported first-quarter financial results.

What Happened?

Nike said fiscal first-quarter revenue increased 4% year-over-year to $12.7 billion, which beat average analyst estimates of $12.27 billion, according to Benzinga Pro. Nike reported quarterly earnings of 93 cents per share, which beat average estimates of 92 cents per share. Earnings were down 20% on a year-over-year basis...Read More

See Also: Why Norwegian Cruise Line And Royal Caribbean Group Shares Are Falling Sharply During Friday's Session

According to data from Benzinga Pro, Dick's Sporting Goods has a 52-week high of $142.78 and a 52-week low of $63.45.

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