Trade Tracker: Stephanie Link adds to Dick's Sporting Goods

Core Insights - Dick's Sporting Goods has seen an 11% decline from its highs, but the core business remains strong with same-store sales at 5.7%, compared to 6.4% last year, indicating resilience despite tough comparisons [1][2] - The acquisition of Foot Locker has been problematic, leading to a charge, but the company is taking steps to right-size and improve inventory management [2][3] - There is optimism for future same-store sales growth as the core business strengthens and the Foot Locker franchise is turned around, although this may take time [3] Consumer Spending Trends - Retail sales grew by 5.7% last month, reflecting strong consumer spending, which is expected to continue into the holiday season [4] - Credit card spending data is accelerating, suggesting that consumers are willing to spend more [4] Valuation and Market Position - Dick's Sporting Goods is trading at 11 times forward earnings estimates, which is considered attractive given the upward trajectory of earnings [5] - The Gap is also performing well in terms of comparable sales, with Old Navy and Banana Republic contributing significantly to revenue, despite challenges in the athleisure segment [6]