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Dick's Sporting to stop selling hunting rifles

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"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.

 

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

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...." 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.

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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. 

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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

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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.

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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!  

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