IMMEDIATE CALL POSTMORTEMS
The first take, while it still matters.
After earnings, most sell-side research takes a day or more to publish, and much of it repeats the press release. An Immediate Call Postmortem is our unfiltered first read: posted on X within minutes of the call ending, then archived here and on Substack. It’s free, it’s short, and it focuses on what actually changed. We only write one when a call gives us something worth saying, and a much more thoughtful Upon Further Review report tends to follow within 3–5 business days.
Why speed matters: read Confessions of a Sell-Side Analyst →
Dick’s Sporting Goods: 2Q26 Immediate Call Postmortem
Inventory levels building up across parts of the industry (specifically called out “legacy footwear” and “apparel franchises” that aren’t resonating the way it once did), leading to a promotional environment. Athletes increasingly responding to newness, innovation, and “a broader set of brands”.
Dick's Sporting Goods 2Q25 Immediate Call Postmortem
Main message that management wanted to send is they are seeing strength across the board. All channels.