So why did the stock drop 9% at the open? Yeah it recovered but still down significantly (>2%). SSS decline of 4% is NOT good and they missed on gross revenue, yes they beat EPS consensus but that was a "lowered expectations" consensus.
Still, the story is it's only maybe half the gun issue, at least as big a deal is that they are heavily dependent on Under Armour sales and UA has been expanding into discount channels and hurting Dicks.
But no doubt gun sales decline was significant to their results.
I have bought ammo only once there, they had a special on shotgun ammo and somehow they goofed and have me a free box.
Unfortunately we usually go there for my kids soccer and baseball stuff as they had have a deal where they kick in a percent of the sale to the team. Plus my son got his Nike cleats on clearance for about $5!
We don't have a Dick's here but if we did I'd walk right in for no other reason than to be a rebel.
Don't need camping gear or overpriced sports gear but being a rebel kind of sounds good.
First, "Dick's policy on gun had little impact..."
Then, "...customer demand for firearms and hunting merchandise had been weak, leading to sluggish sales."
But Bob Phibbs, CEO of consulting firm Retail Doctor, said "Dick's disappointing earnings are not about their ban on assault rifles or any of their other social stances."
Notice that nobody from Dick's commented.
I just know that Dick's is my second-favorite place to buy sporting goods.
dicks is also Field and Stream I do miss the Cheap shotgun ammo with the coupons and sales I was buying Remington gun clubs for $4.00 a box
last year I bought a gun safe, 100 boxes of 12 ga, 50 boxes of 20 ga, 5000 rounds 22lr, 500 rounds .223 various other hunting/shooting items and at least $1000.00 in other items like shirts and shorts for my kids playing sports. I sent them back my rewards card and unenrolled from the emails. and will not ever go back
I have lived at my new home for almost 3 years and have been to Dick's twice. I was 'underwhelmed' both time. It sort of reminds me of Dunham's back where I lived in Michigan only I actually liked Dunham's as they would have great sale prices on guns and ammo from time to time. It might be that I just have more sporting good options at my new location so Dick's just doesn't rate that highly with me.
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