Dick’s Sporting Goods Earnings Drop 23 Percent Amid Surge in Retail Theft

Dick’s Sporting Goods Sees Poor Q2 Results From Shoplifting And Markdown Losses.
Dick’s Sporting Goods Earnings Drop 23 Percent Amid Surge in Retail Theft
Dick's Sporting Goods store in Arlington Heights, Ill., on Feb. 28, 2018. Nam Y. Huh/AP Photo
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Dick’s Sporting Goods saw earnings plummet 23 percent in the second quarter due to a surge in organized retail theft and an attempt to sell off excess inventory.

The company slashed its earnings guidance for the year, warning that retail theft was hurting its business and would lead to lower annual profits.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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