Dick’s Hit by a Footware Apocalypse

Dick’s Sporting Goods Dick’s Sporting Goods has a sneaker problem and footwear stocks are feeling the pinch.

Shares of the sporting goods retailer fell more than 25% after reporting second-quarter earnings, its largest percentage decrease on record, according to Dow Jones Market Data, and its lowest close since late 2023. The retailer’s bad day sent footwear stocks tumbling.