Dick's Sporting Goods in trouble

[DWalt]

MODERATOR EDIT

Fair warning.....

As in the past, we won’t be doing any “Dick’s” jokes.

Regards,
s&wchad

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News story today (edited for brevity):

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.

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.

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."

But while Bolitsky (Dick's CFO) 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 ale 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.

"Months after Dick's Sporting Goods made the move to stop selling assault-style rifles, the company is now considering removing all hunting gear," a Texas ABC affiliate reported on Friday. "Dick's CEO Edward Stack revealed during a conference call that they removed all hunting gear from 10 stores as a test run."

Those stores — including stores in Texas — will replace the hunting gear with more "traditional sporting goods," like "baseball, licensed products, and outerwear."

 

[292]

Interesting. I'm one that hasn't darkened thier door since the decision. I had pair of snake boots on order at the time and considered canceling the order but just went ahead and let them come.

 

[snowman]

Their definition of "traditional" certainly differs from mine(and I presume from a number of other folks here).

Andy

 

[Kanewpadle]

They're not gonna make it. That doesn't bother me bit. But I feel bad for the employees.

 

[Rustyt1953]

There are certainly other and better places to buy firearms and their related products. However, I use them once a year for my grandson's football cleats as they can best fit his odd shaped feet without bankrupting me.

 

[squidsix]

They're not gonna make it. That doesn't bother me bit. But I feel bad for the employees.

This^.
They can say "it was a bad decision and we care about our shareholders and employees, so we are changing it." They will get more customers back than they would lose. Anti-gun folks weren't shopping there anyway. If they were, what were they getting? Golf clubs?

 

[growr]

Seems like Dicks Sporting Goods is learning that decisions have consequences to me...........

Randy

 

[wundudnee]

Dorks is probably the premier place to pick up spandex bicycle shorts. Their firearm supply was pitiful before they cut their own throat.

 

[Fishinfool]

Injecting personal political views into business decisions is usually not a good idea..

Larry

 

[M1A]

I went into a new Dick's some 10 years ago with a gift card. I didn't like the place or staff then. Tossed the card, and went to Cabelas. I never stepped into a Dick's again, and now Cabelas is heading down the wrong path too.
All is a boon for the LGS.

 

[BC38]

Wonder if they'll recognize and correct their error - or will they deny the obvious and "stick to their guns" (pun fully intended) until their company is circling the bowl?
Public actions definitely have consequences.

 

[rkittine]

Although I do not like their stand, Dicks is the only place even reasonably close to me, where I can get Target Shotgun ammo at a great price (when on sale and with their coupons). Most retailers will not ship ammo direct to New York State residence, even though the ban on that is on hold.

Bob

 

[keith44spl]

Talk about shootin one's self, in they're own foot.......

.

 

[double-dipper]

I have not been to a Dick's since they caved in to the gun grabbers. I personally don't have any interest in "black guns" its just the principle of the matter. I prefer steel, wheel and wood.

 

[Eric300]

If Dick's did an 'About Face' and decided to carry firearms/accessories again, I STILL wouldn't shop there. They are dead to me. I hope they crash and burn and their walls crumble to the ground.

 

[Faulkner]

News story today (edited for brevity):


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."

I'm disappointed that the stock price is only down by 4.5% . . . that means too many gun owners are still shopping there.

 

[daddio202]

They soon will have thier wish come true. They will become a shoe,shirts, and pants retailer. The few times I have been there for a sale I was declined with them saying the sale or discount or the Dick's bucks does not include ammo. Seems they despised me in there buying ammo so now I never go no matter what the gimick. Even thier price match is only good to match prices in other "sporting goods"stores only. I tried but never again

 

[Farmer17]

I went in the Dicks near me recently and every single hunting and shooting item had been removed and replaced with more racks of Nike and Under Armor Clothing. We have Cabelas and Academy Sports near by so there was absolutely no reason to ever go in Dicks and we also have an outlet mall that has Reebok, Under Armor, and Nike clothing for a third the price of Dicks so I really don't know how they stay in business. I wouldn't advise buying any of their stock shares.

 

[italiansport]

I expect the gun grabbers are rubbing their hands in glee. They have put us at odds with a long time established gun dealer. As you all well know, "divide and conquer" has been one of the gun grabbers strategies and its worked to perfection in this case.
Jim

 

[BC38]

I expect the gun grabbers are rubbing their hands in glee. They have put us at odds with a long time established gun dealer. As you all well know, "divide and conquer" has been one of the gun grabbers strategies and its worked to perfection in this case.
Jim

Noooo...

Dicks put someone into the CEO job who decided to align the company with the gun grabbers - rather than with their existing pro-gun customers.

What has happened to them will hopefully serve as an object lesson to any similar corporate entities or "leaders" who might consider doing the same.

It is unfortunate, but if it prevents similar businesses from making similar moves in the future then there is a silver lining.