Slipping Under Armour sales sends Dick's stocks down

Dick's Sporting Goods reported positive second quarter earnings — $1.20 a share, handily beating the $1.06 estimated by analysts, according to Bloomberg. However, sales missed estimates, and comparable sales slumped 1.9 percent, worse than the 0.8 percent drop expected. Further, management said the company "experienced continued significant declines in Under Armour sales as a result of their decision to expand distribution." The retailer's share price was off as much as 14 percent in premarket trading.