Opinions Jim Cramer - Mad Money
Dick's Sporting GoodsDKSBUY ON WEAKNESSSep 04, 2024
Jim Cramer - Mad MoneyStock price when the opinion was issued
As of Sep 29, 2026. Market Open.
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He bought more. It cratered 20% after reporting, so he added more, then had a nice recovery. Then it traded at $122. He still felt DKS has the market to themselves and likes their partnerships with people like Meta. And the stock is not expensive. DKS is being hurt by the oil price and consumer trends. Eventually DKS will be a winner.
She bought more. It's 11% below highs. Their last numbers were really good with the core business humming, same-store sales +5% vs. 6.4% last year, and guided higher and increasing market share. One problem is Foot Locker, which is a disaster, but they took a charge and are right-sizing and improving inventory. They will turn around Foot Locker. It could take a while, but they will turn around.
It's insane that shares dropped 10% this morning after they reported. They reported 4.5% same-store sales growth, beating, net sales also beat as well as EPS. Margins also expanded and raised their guidance. Shares fell because they raised guidance to where the street already was looking for, and their full-year forecast implies a slowdown in the back half of the year (2.5-3.5% same-store sales growth vs. the just-posted 4.5% growth). Also, the company has been investing in long-term growth and will double-down on that investment, but that will eat into earnings. He thinks that's great, but no some investors. This pullback is a buying opportunity. Among tailwinds is their app which boasts over 6 million users.