On August 25, Dick's Sporting Goods fell 20.59% in regular trading, trading at $143.37/share with turnover of $346 million, after the company reported fiscal Q2 results that missed expectations on both top and bottom lines while dramatically cutting its full-year outlook.

The company posted non-GAAP earnings of $3.53 per share, missing the analyst consensus estimate of $3.77 by 6.37% and representing a 19.4% year-over-year decline from $4.38 in the prior-year period. Revenue came in at $5.59 billion, approximately $50 million below expectations. Critically, Foot Locker pro-forma comparable sales declined 3.6%, reflecting ongoing pressure in the athletic footwear market.

More significantly, management slashed full-year non-GAAP EPS guidance to $11.00-$12.00, far below the prior range of $13.50-$14.50 and the FactSet consensus estimate of $14.28. The revised guidance incorporates dilution from the 9.6 million shares issued for the Foot Locker acquisition and assumes a 29% effective tax rate, with full-year capital expenditures projected at approximately $1.6 billion.

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