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Kiplinger

Business

Joey Solitro

Dick’s Sporting Goods Cuts Profit Outlook As Inventory Theft Worsens

Dick Lauren Hobart Target

Variety of sport accessories on wooden surface.

Dick’s Sporting Goods’ (DKS) sales and earnings results missed expectations as the retailer reduced its full-year outlook amid the “increasingly serious issue” of inventory theft.

The company’s stock responded to the news by plummeting more than 20% in the day’s trading.

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