What the Club is watching Wednesday — Dick's cuts forecast, Nordstrom raises guidance

Signage outside a Dick's Sporting Goods store in Clarksville, Indiana, Nov. 9, 2020.
Luke Sharrett | Bloomberg | Getty Images

What we are watching May 25, 2022

  • More problems with retail: Dick's Sporting Goods (DKS) beats expectations but lowers its full-year adjusted earnings-per-share forecast to the range of $9.15 to $11.70 from $11.70 to $13.10. The sporting goods retailer's shares dropped more than 14% in the premarket.
  • But not all terrible as Nordstrom (JWN) shares popped more than 5% in premarket trading after the retailer reported strong sales and a slightly wider-than-expected loss for the quarter. Management also raised its annual sales and profit guidance. The board announcing a $500 million share repurchase program also helps.