Dick’s Sporting Goods cuts 2026 earnings forecast by $2+, shares drop 25%, dragging athletic stocks lower.

Dick’s Sporting Goods lowered its full-year 2026 earnings guidance by over $2 per share after missing Q2 sales and earnings estimates, causing its stock to fall 25%. The company cited weaker-than-expected product launches and a promotional shift in athletic footwear impacting its Foot Locker business. This guidance cut also pressured other athletic apparel stocks like Nike, Lululemon, and On Holding, which fell despite no new company-specific news. Investors should watch Nike’s next earnings update for further insight into the sector’s promotional environment and demand trends.