Dick's Sporting to stop selling hunting rifles

[Zack 17]

"Dick’s Sporting Goods Inc said on Tuesday it would stop selling hunting rifles and ammunition at 125 stores and forecast 2019 profit below analysts’ expectations, sending its shares down 10 percent."

https://www.reuters.com/article/us-dicks-sporting-results-idUSKBN1QT22G?fbclid=IwAR2kEnirpR0A7PugQBBcT2ZOyWuvokWW-_akCOW1Xos80-Slev40hwor5C0

So first you stop selling any guns other than hunting rifles.  Then when sales go in the tank because, well, gun owners all hate you and foot traffic in the store drops.  You decide to drop hunting rifles and ammo too.  I guess?  I'd like to know what Reebok did to get the boot though.

 

[Handyman 5,682]

Last one out of Dick's turn off the lights. 

I used to shop there decades ago out of state - it was a pretty nice, gun-friendly store. 

[124gr9mm 859]

[W2MC 1,699]

Here comes the long, slow slide into insolvency....

[Sniper 6,372]

Should be interesting to watch fishing and camping equipment sales this Spring, to see if that trend continues.

-----------------

...." However, hunters weren’t so keen on the retailer during the quarter, with guns, ammunition, firearm accessories and hunting apparel declining. According to Stack, the hunting and electronics categories hurt same-store sales by 3%.

The company also removed the entire hunting category from 10 stores late in the third quarter where it was underperforming, according to Stack, “and replaced it with a more compelling assortment.”

Dick’s Sporting Goods is planning to pull the category from 125 additional stores.

Neil Saunders, managing director at GlobalData Retail, has two concerns about the shift in Dick’s Sporting Goods’ business.

“Our data show that a lot of hunters and gun enthusiasts have migrated to retailers like Bass Pro and to smaller specialists,” he wrote in a note. “At the same time, Dick’s Sporting Goods has not benefited from an upswing in trade among those who agree with its gun policy.”

https://www.marketwatch.com/story/dicks-sporting-goods-results-hurt-by-under-armour-and-the-hunting-category-2019-03-12?mod=mw_theo_homepage

That's what happens when a mass retailer wants to play politics.

[DaddyNick 408]

I still grab sports stuff for my boys there because it's the best by far in the area. It's their choice and I'm not going to punish them for my beliefs. 

I have NOT bought anything fishing and/or hunting/shooting related in months. 

[FishNHard 145]

Sooooooo   you want to jump on the liberal yuppy we hate black guns wagon then they thank you for doin it but NOWWWW they don't shop there well guess what there DICKS 

[JimB1 554]

Dick’s owns Field and Stream stores too. Are they dropping guns from those stores too or just transferring the gun sales to Field and Stream? They may just be virtue signaling while collecting profits on gun sales elsewhere...

-Jim

[remixer 1,645]

We'll just look at their names....   Maybe change it to Stupid Dicks.

[124gr9mm 859]

1 hour ago, DaddyNick said:

I still grab sports stuff for my boys there because it's the best by far in the area. It's their choice and I'm not going to punish them for my beliefs. 

I have NOT bought anything fishing and/or hunting/shooting related in months. 

IMO there's nothing wrong with hooking your kids up when they need it.

In fact, I think it highlights the stupidity of Dick's decision.  If they have a well stocked shooting section they're more likely to get "add on" sales from people like you when picking up things for their kids.  Now they lose that option.

[njJoniGuy 2,131]

I bet Chairman Stack shorted his own company's stock and is now raking in a fortune as it tanks.

I hope Bubba tears him a real BIG new one when the SEC catches wind of this move.

[W2MC 1,699]

https://www.forbes.com/profile/edward-stack/#5b9d185e6bbe

[TR20 47]

Wait until just before Q2 earnings come out and buy a bunch of out of the money puts two months out (time premium). That way you get 60 days to enjoy the shit show and cash in when they fall short on the top and bottom line.

At least they got their name right DICKS!  

[Handyman 5,682]

I'm pretty sure the earnings report will show that Dicks is becoming increasingly limp.

[remixer 1,645]

4 minutes ago, Handyman said:

I'm pretty sure the earning report will show that Dicks is becoming increasingly limp.

No doubt it will show a downward sales curve 

We can do this all day lol

[Handyman 5,682]

[mustang69 505]

Further demonstration of just how clairvoyant they were when they named the company.

Karma's a bitch...