Dick's Sporting Goods shares slumped 22% after the retailer reported second-quarter earnings that missed Wall Street expectations and cut its full-year outlook, with weakness at newly acquired Foot Locker weighing on the broader business. 65 billion a year earlier, helped by the addition of Foot Locker and growth in its core sporting goods business.

65 billion. 76 per share.

71 per share, in the same period last year. The sharp fall in the stock showed investor concern that Dick's may face a slower and more expensive integration of Foot Locker than expected.

It also raised questions about demand for athletic footwear and apparel at a time when shoppers remain careful with discretionary spending. The company’s core Dick's Sporting Goods business remained stronger.

9% in the quarter, helped by demand across several product categories and stronger traffic. 85 billion.

Foot Locker was the weak spot. 6% in the quarter, hurt by intense competition in athletic footwear and cautious consumer demand.

The decline offset gains in DICK’S core business and became the main reason behind the earnings miss and guidance cut. Dick's completed the Foot Locker acquisition to strengthen its position in athletic footwear and expand its reach with younger consumers.

But the latest numbers showed that the turnaround in Foot Locker may take longer than investors had hoped. As major sellers of athletic shoes, apparel and sports merchandise, Dick's and Foot Locker are closely watched by investors tracking consumer demand in the category.

Weak performance at Foot Locker also raises concerns for brands that depend on large retail partners to move inventory. 4 billion.

81 billion. 5% to 4% growth.

But it now expects Foot Locker comparable sales to be flat to down 2% for the year. 50 per share.