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Dick’s Sporting Goods offers upbeat guidance on Q3 earnings beat

Yahoo Finance's Brad Smith discusses Dick's Sporting Goods earnings.

Video transcript

AKIKO FUJITA: Brad, let's talk about another company that is getting a big pop in this session, and that is Dick's Sporting Goods, getting a pop here after raising its full year forecast.

BRAD SMITH: Yes, that's right. And so Dick's looking good right now. It's up by about 5.7%. And for every season starting at Dick's, it's a larger question of for Dick's here, with the assortment that they do have, where they still are going to see some bumps in the road. And you're seeing that on your screen actually right now.

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And their updated guidance, even though it was an updated guidance and revised higher, it still is going to be net, net losses that they're going to be looking for in terms of the year over year comps. And so that guidance is actually looking for some deceleration, or declines, rather.

But then, additionally here, for Dick's and the number of different companies that they work with, if you're seeing less of that kind of prime inventory that a Nike may be putting into Dick's because we do know for even a sneaker supercycle, as some analysts have classified it in the past, is Dick's really going to be the beneficiary there, or does it need to lean into other partnerships to get people in the store?

They didn't mention Peloton specifically within this particular earnings report. But that's another major partnership that moved forward over the course of this last quarter that was a huge announcement. We'll see if that pays for Peloton or for Dick's.

But for right now, this is going to be a big holiday season to see exactly where some of the consumers are taking price as well that Dick's is continuing to put with the assortment of inventory that they do have. Remember, this is also a company that owns another brand in Golf Galaxy. That one's gotten a little bit more of my dollars over the year, Akiko.