They actually admit they’re (partially) to blame:
Comparable-store sales fell 4%, Dick’s said. Not adjusting for the 53rd week last year, the company’s same-store sales declined 1.9%.
The weaker-than-expected results bucked a trend in the retail sector, which largely has benefited from a surge in consumer spending fueled by a booming economy.
Consumer confidence for August, measured by the Conference Board’s consumer confidence index, was the highest its been in about 18 years. That sentiment, along with other factors, has powered companies such as Walmart Inc. WMT -0.42% and Target Corp. TGT +1.11% to their best quarterly results in more than a decade.
Dick’s said part of the company’s sales problems were a result of Under Armour’s decision to sell in more stores including Kohl’s.
Also hurting sales was Dick’s decision to tighten its policy on gun sales after 17 people were killed in a February shooting at a Parkland, Fla., high school. The retailer halted sales of any firearms to people under age 21 at all of its 845 Dick’s and Field & Stream stores, and stopped selling assault-style weapons at Field & Stream.
Barring a course correction (and maybe an apology) we are headed towards my February prediction. (I told you [and them] so).