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Get Woke, Go Broke: Dick's Decision To Get Rid Of Guns Cost Company Dearly
Posted on 12/2/18 at 5:08 pm
Posted on 12/2/18 at 5:08 pm
quote:
Dick's Sporting Goods is warning investors that its decision to remove certain "assault-style" weapons from its Field & Stream stores cost it dearly and may limit its future gains.
The sporting goods retailer was forced to confront angry shareholders late last week after its stocks tanked more than 4.5% and financial conglomerate J.P. Morgan Chase downgraded Dick's shares, saying the company was "overweight."
"Gross margin-driven upside appears less probable given 3Q's performance, changing comparisons, and rising inventory levels," an analyst for J.P. Morgan told CNBC. The same analyst noted that same-store sales for Dick's outlets are expected to grow less than 1% even as the company's inventory rises.
"The analyst pointed out that Dick's same-store sales growth for 2019 is expected to be less than 1 percent after averaging 2.1 percent between 2011 and 2015. He also noted that while the company's 25 percent Black Friday store discount will help boost sales, it will not boost margins," the analyst continued. "Inventory levels, meanwhile, rose 1 percent in the third quarter after falling 5 percent in the first half of 2018 with inventory days estimated to return back to 2015-2017 levels."
Dick's says it can trace the downturn not just to an overall retail downturn, but also directly to its decision to take action on "gun control," banning the sales of "assault-style" rifles at its Field & Stream affiliated retailer and discontinuing any gun sales to people under the age of 21.
LINK
This post was edited on 12/2/18 at 5:09 pm
Posted on 12/2/18 at 5:09 pm to stout
When they start closing stores soon we should all stand out in front singing Nananana Goodbye.
Posted on 12/2/18 at 5:11 pm to stout
Every time I walk into academy I think “frick dicks and field n stream”
Posted on 12/2/18 at 5:12 pm to stout
If SJWs were their main buyers, I could totally understand what they did.
Posted on 12/2/18 at 5:17 pm to stout
quote:
Dick's says it can trace the downturn not just to an overall retail downturn, but also directly to its decision to take action on "gun control," banning the sales of "assault-style" rifles at its Field & Stream affiliated retailer and discontinuing any gun sales to people under the age of 21.
Dick's took some Saltpeter and went limp! Good job America hit em where it hurts.
Posted on 12/2/18 at 5:19 pm to SelaTiger
quote:
If SJWs were their main buyers, I could totally understand what they did.
It shows you haw insulated people are and how they overreact to social media outrage
Posted on 12/2/18 at 5:20 pm to stout
Wasn’t this the second time they made the big gun speech?
Posted on 12/2/18 at 5:23 pm to stout
At the end of the day, retailers like Dick’s probably don’t take a hit on their sports and exercise stuff when they take a political stand like they did, but their hunting/fishing sections must take a huge hit. Considering they face heavy competition from places like BPS and Academy, gutting margins by alienating the outdoor types that tend to be right leaning is just idiotic.
Posted on 12/2/18 at 5:25 pm to stout
All these chain outdoor stores need to shut down. Let the Mom and Pops come back.
Posted on 12/2/18 at 5:25 pm to stout
They’ve removed all hunting gear from something like 10 stores as a test/pilot program. It actually makes sense...if you’re gonna give the folks who would be buying the hunting gear less incentive to come into the stores with all your gun grandstanding, might as well replace that apparel and equipment with a larger baseball/basketball/football/shoe/clothing selection
Posted on 12/2/18 at 5:27 pm to gthog61
I won’t ever walk into a Dick’s again as long as I live and will not buy anything online from them either.
Posted on 12/2/18 at 5:27 pm to Scoop
quote:
At the end of the day, retailers like Dick’s probably don’t take a hit on their sports and exercise stuff when they take a political stand like they did, but their hunting/fishing sections must take a huge hit. Considering they face heavy competition from places
Not sure Scoop.....I can only speak for myself but I hunt/fish but I also have been coaching youth baseball for over 20 years. Can't tell you how many times I've gone in to buy something hunting related and purchased some type of baseball gear/clothing at the same time.
Posted on 12/2/18 at 5:27 pm to stout
Well I can tell you I never had any intention of buying an AR from there, but their liberal bullshite has kept me from buying anything from there ever again. Shorts, shirts, fishing gear, anything. Academy gets my business.
Posted on 12/2/18 at 5:29 pm to stout
I never buy anything from Dick's.
Not for any political reasons.
Just because they are consistently the highest price on everything.
Not for any political reasons.
Just because they are consistently the highest price on everything.
Posted on 12/2/18 at 5:35 pm to stout
I have not shopped there since and never will.
Posted on 12/2/18 at 5:39 pm to stout
Pointless virtue signaling can be expensive
Posted on 12/2/18 at 5:53 pm to deltaland
quote:If they had simply and quietly taken action none of this would happen. Grandstanding is what tanked them.
Pointless virtue signaling can be expensive
Posted on 12/2/18 at 6:02 pm to Green Chili Tiger
quote:
I never buy anything from Dick's.
Not for any political reasons.
Just because they are consistently the highest price on everything.
Well, it's pretty convenient to miss your projected sales and then blame it on gun owners or Dick's taking a "moral stand" on gun control. The truth is they suck compared to similar chains like Academy. Their too expensive on the same products. No real gun enthusiasts or hunters went to Dick's to buy their guns, ammo, or hunting supplies. This us just a BS excuse.
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