Dick’s Sporting Goods suffered a record 30% plunge after reporting weaker-than-expected second-quarter earnings and revenue and sharply cutting its full-year profit outlook. CNBC’s Jim Cramer said the damage was concentrated at Foot Locker, whose comparable sales fell 3.6% against expectations for a slight increase, while Dick’s comparable sales rose 4.9% in line with forecasts. The company cut its full-year Foot Locker sales outlook but kept Dick’s comparable-sales forecast unchanged. Cramer said excess inventory and changing consumer preferences are weighing on athletic footwear and apparel, while acknowledging that the Foot Locker acquisition, completed in September 2025, is proving difficult to turn around. He said the selloff could create a longer-term buying opportunity, noting that Dick’s trades at roughly nine times 2027 earnings and remains one of the few large-scale sporting-goods retailers in the market. Cramer also pointed to an August 2023 selloff, when shares fell 24%, bottomed around $100 on Oct. 27 after another two months, and then surged roughly 150% to $250 over the next 15 months.