Get Woke, Go Broke? Dick's Sporting Goods Warns Investors That Decision to Get Rid of Guns Cost Company Dearly
Via Billy
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.”
An analyst for J.P. Morgan told CNBC that same-store sales for Dick’s outlets are expected to grow less than 1% in 2019 even as the company’s inventory rises. This is happening 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.
Speaking to USA Today, Lee Bolitsky, Dick’s chief financial officer, called out the company’s gun sales plan directly, but also pointed out that gun sales are down across the board — not just at Field & Stream (largely the result of the Trump administration, which is not the kind of pointed threat to gun rights its predecessor was).
“In addition to the strategic decisions we made regarding firearms earlier this year, the broader industry has decelerated and remains weak as evidenced by most recent national background check data,” Bolitsky told investors. “We believe this also contributed to the decline.”
But while Bolitsky didn’t come out and say it directly, it seems that Dick’s’ decision to cut down on its gun sales had an impact in other areas of its business. Gun owners and pro-gun consumers may not be able to buy their guns from Dick’s any longer, but they also seem to have made the conscious decision not to trust Dick’s as an outfitter for any of their other needs — particularly their hunting needs.
Dick’s has seen a decline in sales of its hunting gear overall — such a decline that they’re considering removing hunting and outdoors equipment from all of their stores in order to boost their bottom line and cull some of their excess inventory.
A test run of ten stores — including stores in Texas — have removed all hunting gear from their sales floor merchandise. These stores have replaced the hunting gear with more “traditional sporting goods,” like “baseball, licensed products, and outerwear.”
Source: https://freenorthcarolina.blogspot.com/2018/12/get-woke-go-broke-dicks-sporting-goods.html
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Dick’s in the dirt… As in Dick’s Sporting Good will be taking a long overdue dirt-nap… permanently… Those idiot globalist deserve to die a traitor’s death.
Q’s coming! Are you ready?
what is going to make dicks dick limp is the fact they donated money to gun control groups–this article is nonsense and misses the real reason dick has no dick!!!!
Maybe they will cut the dick off and become Jane’s Sporting goods.
I wouldn’t set foot back in that store even if they were dickless. I shop at Academy anyways.
They named their chain of stores correctly !!! The people at the top there really ARE Dicks !!! Stupid IS as Stupid DOES and NO one should have ANY sympathy for them or their blatantly Leftist Liberal views !!! I hope that they go Out of business and SOON as a result of their REALLY poor decision making !!!
Yep, rather go online, if you don’t uphold the constitution I don’t know you. 1 or 2 day shipping mind you, I’m not sitting around for a week waiting for something.
I haven’t spent a dime at Dickhead’s since they shit on the very people who come to their stores.
How does “Getting Woke”, have anything to do this article? Dick’s didn’t “Get Woke” if anything it’s the opposite, the customers “Got Woke”. What is making them “Go Broke” was their arrogant, narcissistic, “We will decide morality for our customers in line with the scheduled Globalist takeover of America the company supports.”, Nanny-Boss sort of assumption that the public is too stupid to be trusted with something as powerful as personal choice. Unless of course, the personal choice of our customers is to shop at our stores, and even then they can’t be trusted completely.
The egocentric malcontents in charge over at Dick’s actually thought it was a smart idea to crap all over the individualism that causes people to buy what the fashionable Individualist has by definition decided for him or her self needs to be the best Individualist they can be.
How do people this stupid get jobs in the management of anything?
Happy BK!