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Dick's Sporting Goods' Stock Is Tanking On Tuesday Morning

August 22, 202321 Comments

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Dick's Sporting Goods stock tanked on Tuesday morning, dropping a staggering 19% in premarket trade...

quote:
The company recently revealed to shareholders that it missed consensus for its second quarter profit while also seeing a decline in sales.

CEO Lauren Hobart referenced "the impact of elevated inventory shrink," an issue she says is taking a toll on many retailers.

Inventory shrink can included damaged goods, but in most cases it refers to shoplifting. Multiple retailers have been affected by coordinated shoplifting, including Walmart and Target.

The retailers say they believe the root of this issue is organized crime and that the losses they experience from said shoplifting can be measured in billions of dollars.

(The Spun)

Filed Under: General Sports

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21 Comments

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cajunmud•8 months

Good! THE worst company on earth. Worse that AT&T.

I bought a bike from them 5 or 6 yrs ago that came damaged. It took me 1 solid year to get them to make it right. It was organized alright, organized denial by every worthless fck that works there...from the bottom to the top. Not a more deserving bankruptcy candidate!

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6R12•8 months

Some company will get aggressive with either Taser or letting a big ole "used to be" lineman get to block them from leaving.

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weptiger•8 months

I quit shopping at Dicks years ago after they went woke.

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lsusteve1•8 months

"retailers say they believe the root of this issue is organized crime" Yeah, ok Quit catering to these criminals & start protecting your assets.

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DeafVallyBatnR•8 months

They went woke before woke was a thing. Stopped selling guns.

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Mr Gardocki•8 months

wokey woke = brokey broke

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jbird7•8 months

Another win for the “Progressives”

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CaptainsWafer•8 months

You hate to see it.

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GeauxTigers0107•8 months

Karma? One would hope so...

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Sandy Giner•8 months

Get woke, go broke

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WhoDatNC•8 months

Good. They've been ripping off customers for years.

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jrobic4•8 months

GOOD

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CanebreakCajun•8 months

F these commies.

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OlDirtyTiger7•8 months

Never heard of shoplifting being referred to as "organized crime" before, lmao

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FreddieMac•8 months

These are not poor people trying to survive. They are organized gangs sponsored by thr mafia.

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financetiger38•8 months

They could’ve just called them democrat voters

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Dingeaux•8 months

" elevated inventory shrink"
Good God, just call it what it is. Quit beating around the bush. Talk about the elephant in the room

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TheOcean•8 months

That's a kick in the dick

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KAGTASTIC•8 months

Couldn't happen to a better company. Frick'em....bend the knee...get hoe slapped

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CAD703X•8 months

"organized crime" lol. its the italians i tell ya!

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holmesbr•8 months

Before long they will just give the truck driver an envelope with cash and take the truck. Probably easier anyway.

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