(Bloomberg) -- Dick’s Sporting Goods Inc. sank after the Foot Locker chain it acquired last year continued to struggle, raising doubts about the broader sneaker market.

The sports retailer cut its profit outlook amid a “challenging” market.

Dick's Sporting Goods reported second fiscal quarter revenue on Tuesday that missed Wall Street expectations amid what it called a "challenging" environment.

DICK'S Sporting Goods, Inc. Reports Second Quarter Results