Edward W Stack

That's a moment I was like, "Officially this is over." So, um, yeah, that was not a fun one.

Next one, Ed Stack, "Did the NFL make any significant rule changes during the off-season? Specifically, is there now a better definition of what is a catch? Starts at cut baked bean enhancements, sausage, bacon, brisket." Dusty, we'll start with you.

I mean, no significant rule changes.

I, I'll say, uh, the only thing they could do to clear up a catch is to take rules away from it.

Ouch.

And on the Dick's call, Ed Stack relayed what a brand executive told him, quote, I have never seen the specialty channel of distribution so promotional in my career.

Yikes.

So you take all that, you're

Foot Locker, Mary Dillon fixed that company enough to be able to attract a buyer.

I think we all felt that Ed Stack and Lauren Hobart would know that there's other things wrong with the footwear industry.

That industry is way out of whack, as we know from the Nike underweight Morgan Stanley, which is pretty shocking.

Yeah.

Oof.

Ed Stack's explanation on the call was specific and I'd argue it's the most important sentence anyone in our industry heard this week.

He said, quote, a number of brands got very promotional on their sites, unquote, and that those promotions bled into the wider market.

He then relayed a line from a footwear brand executive, quote, I've never seen the specialty channel of distribution so promotional in my career, unquote.

Dick's Sporting Goods shares plunged more than thirty percent Tuesday, the stock's biggest one-day drop on record, after the retailer cut its annual profit outlook.

The company's executive chairman, Ed Stack, said the sneaker industry is carrying too much inventory.

Brands have been offering bigger discounts to move shoes off the shelves, and those promotions are spilling into the broader market.

Stack expects the pressure to continue through the rest of this year.

Steph Curry, Ed Bastian, the CEO of Delta.

Today, I'm recording an interview with Peyton Manning, Scott Mahoney, the CEO of Peter Millar, Ed Stack, the CEO of Dick's Sporting Goods.

And there's just so many interesting stories.

I did an interview last week with Kelly Brook.

Dick's comparable sales rose nearly 5%, while Foot Locker's fell nearly 4.

Dick's chairman, Ed Stack, told investors, "We're going to go through some pain." The pain it's seeing is that consumers simply aren't spending a lot of money on footwear, and if they are, they're expecting brands to discount them heavily, leading to an industry-wide promotional race to the bottom.

Dick's would probably pay $2.4 billion to not be in the shoe business right now because everywhere you look, it is carnage.

Nike is down nearly 40% this year, while shares in On and Under Armour are down 20% in the past month alone.