Tag Archives: Dick’s

Gun Ban Bans Sales

12 Tuesday Mar 2019

Posted by in Legal/Political Columns, News and Notes

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The demise of Dick’s Sporting Bads is taking a little longer than I expected though it is progressing.

Since then sales at Dick’s have declined, despite a strong U.S. economy and consumer spending, Mr. Stack has blamed much of the decline on its stance on guns, saying some gun enthusiasts have stopped shopping at the chain.

For the fiscal year ended Feb. 2, same-store sales fell 3.1%. The company said it expects comparable sales to be flat to up to 2% this fiscal year. Dick’s predicted same-store sales will return to growth in the second quarter, but also set annual earnings targets that were below Wall Street’s forecasts.

Dick’s stock fell 9% to $35.24 in morning trading as the broader market was slightly higher. The stock had rallied about 25% since the start of the year.

Down, down, and away!

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Dick’s Sporting Goods: Shooting Their Business in the Foot

29 Wednesday Aug 2018

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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).

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Dick’s Sporting Goods Going Out of Business!

28 Wednesday Feb 2018

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Later next year. Maybe 2020. Some future announcements from the ever-so socially conscious retailer:

70% Off All (non assault rifle) Merchandise!

Everything Must Go! Including Fixtures!

All Stores Closing!

Good luck to our former employees!

Apologies to our Shareholders!

“This major economic divestment has nothing to do with our February 2018 decision to slap a large segment of our customers in the face and stop selling some of the most popular items on the market.”

Dick’s Sporting Goods, a major U.S. retailer, will immediately halt sales of assault-style rifles and high-capacity magazines at all of its stores and ban the sale of all guns to anyone under 21.

The announcement Wednesday comes as students at Marjory Stoneman Douglas High School in Parkland, Florida, return to class for the first time since a troubled teenager killed 17 students and educators with an AR-15 two weeks ago.

“When we saw what the kids were going through and the grief of the parents and the kids who were killed in Parkland, we felt we needed to do something,” Chairman and CEO Ed Stack said on “Good Morning America.”

A strange corporate move at a time when things like school shootings are at a near all-time low.

Rumors that Dick’s will immediately institute a 10% discount for card-carrying members of NAMBLA and the Communist party USA are of yet unsubstantiated.

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