NEW YORK, NY - 
(NewMediaWire) - February 28, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers of Dick’s Sporting Goods, Inc. (“DSG” or the “Company”) (NYSE: DKS) common stock between May 25, 2022 and August 21, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.
On August 22, 2023, DSG issued a press release announcing financial results for the second quarter of fiscal year 2023, ended July 29, 2023, and discussed the results on an accompanying earnings call held the same day. In the press release, DSG’s CEO Lauren Hobart was quoted as stating “our Q2 profitability was short of our expectations due in large part to the impact of elevated inventory shrink, an increasingly serious issue impacting retailers.” Additionally, during the earnings call CEO Hobart stated “[w]hile we delivered double-digit EBT margin of 10.1%, our second quarter profitability was short of our expectations” and that “[t]his was primarily due to lower gross margin.” Further, CEO Hobart revealed that, “beyond shrink, we also took decisive action on excess product, particularly in the outdoor category, to allow us to bring in new receipts and ensure our inventory remains vibrant and well positioned.”
Following this news, on August 22, 2023, the price of DSG shares fell $35.51 per share, more than 24%, to close at $111.53 per share.
If you are a member of the proposed Class, you may move the court no later than April 22, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
