DICK'S SPORTING GOODS ALERT: Bragar Eagel & Squire, P.C. is Investigating DICK'S Sporting Goods, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against DICK'S Sporting Goods, Inc. due to a class action lawsuit alleging breaches of fiduciary duties by the company's board of directors [1] Group 1: Class Action Allegations - The class action lawsuit claims that DICK'S Sporting Goods made false or misleading statements regarding the demand for products in its Outdoor segment, which was slowing faster than represented, leading to excess inventory [2] - It is alleged that the "structural changes" promoted by the company, such as differentiated products and improved pricing technology, failed to effectively manage excess inventory without negatively impacting profitability [2] - The need to liquidate excess inventory, particularly in the Outdoor segment, is expected to have a materially negative effect on the company's profitability [2] Group 2: Analyst Reports and Stock Performance - On May 19, 2023, TD Cowen and Telsey Advisory Group downgraded their sales and earnings per share estimates for DICK'S Sporting Goods, resulting in a nearly 7% drop in the stock price [3] - Following the announcement on August 22, 2023, that the company's second-quarter profitability was significantly lower than expected, DICK'S Sporting Goods reported a net income of $244 million, which was below the analyst consensus estimate of$338 million [4] - The company's earnings per share were reported at $2.82, compared to the consensus estimate of$3.81, and the gross margin was 34.4%, below the expected 36.3% [4] - The stock price fell more than 24% after the announcement of lowered profitability guidance for the remainder of fiscal year 2023 [4]