Shares of Adidas and Puma fell on Tuesday after Dick’s Sporting Goods reported a sharp decline in its stock and lowered its full-year outlook, citing weakness at the recently acquired Foot Locker unit.
Adidas (ETR:ADS) dropped 2%, while Puma (ETR:PUM) declined 1% in Frankfurt trading. Dick’s Sporting Goods (NYSE:DKS) plunged 15% after reducing its annual guidance, which it attributed to underperformance at Foot Locker. The retailer also noted that sales gains during the World Cup period were insufficient to offset broader challenges in its Foot Locker business.
Nike (NYSE:NKE) shares fell 2.5% in pre-market trading, reflecting broader concerns about demand in the athletic apparel and footwear sector. Dick’s Sporting Goods serves as a key distribution channel for major brands, and its outlook has raised questions about inventory clearance and consumer demand trends. Market participants are monitoring whether retail weakness could spill over into broader sportswear performance.
