View Full Version : Stevie Wonder could have seen this coming...
https://www.dailywire.com/news/38935/dicks-sporting-goods-warns-investors-our-decision-emily-zanotti
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.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."
"Gross margin-driven upside appears less probable given 3Q's performance, changing comparisons, and rising inventory levels," an analyst for J.P. Morgan told CNBC (https://www.cnbc.com/2018/11/29/dicks-sporting-goods-faces-tough-road-ahead-after-30percent-surge-this-year-jp-morgan-says.html). The same analyst noted that same-store sales for Dick's outlets are expected to grow less than 1% even as the company's inventory rises.
"The analyst pointed out that Dick's same-store sales growth for 2019 is expected to be less than 1 percent after averaging 2.1 percent between 2011 and 2015. He also noted that while the company's 25 percent Black Friday store discount will help boost sales, it will not boost margins," the analyst continued. "Inventory levels, meanwhile, rose 1 percent in the third quarter after falling 5 percent in the first half of 2018 with inventory days estimated to return back to 2015-2017 levels."
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.
Speaking to USA Today (https://www.usatoday.com/story/money/2018/11/29/gun-ban-dents-sales-dicks-sporting-goods/2152134002/), Lee Bolitsky, Dick's chief financial officer, called out the company's gun sales plan directly, but also pointed out that gun sales are down across the board ? not just at Field & Stream (largely the result of the Trump administration, which is not the kind of pointed threat to gun rights its predecessor was).
"In addition to the strategic decisions we made regarding firearms earlier this year, the broader industry has decelerated and remains weak as evidenced by most recent national background check data,'' Bolitsky told investors. "We believe this also contributed to the decline.''
But while Bolitsky 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 (https://abc13.com/shopping/dicks-considering-removing-all-hunting-gear-from-stores/4802662/) from all of their stores in order to boost their bottom line and cull some of their excess inventory.
SideShow Bob
12-02-2018, 17:49
“ 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..... “
So,
They are basically going to become a yoga pants store........ Hunting and outdoor equipment is the original purpose of a ?Sporting goods? store.
Carlos Mencia would say, "Dee-De-Dee"
They are basically going to become a yoga pants store........
Yoga pants are the best invention ever. The guy who thought these things up was a genius.
SideShow Bob
12-02-2018, 18:16
They are basically going to become a yoga pants store........
Yoga pants are the best invention ever. The guy who thought these things up was a genius.
Until you see a big woman in them......
kidicarus13
12-02-2018, 18:21
I'm sure destroying their "assualt rifle" inventory didn't help their bottom line. Idiots.
https://abcnews.go.com/US/dicks-sporting-goods-destroy-unsold-assault-style-weapons/story?id=54555661
I think if they can't be on board with the segment of the population that wants to buy gun related stuff, then they shouldn't sell any of it. Be great at what your business is supposed to be and stand behind it 100%, or don't engage in that market.
They were also monkeying around with ammo prices too. This is the original piece I read on their shenanigans but think it covers the basics. Might have been covered here too? Dick's is getting what they deserve. https://www.guns.com/news/2018/10/25/battle-born-munitions-sues-dicks-for-5-million-over-ammo-deal-turned-sour
DavieD55
12-02-2018, 20:56
When social justice warriors run a comany their way.
Will1776
12-02-2018, 21:19
Dick's Sporting Goods is an absolute JOKE
Karma is a bitch.
...but then I also have to wonder what they're hiding. They didn't have that much 'assault weapon' inventory in the first place.
If they've truly been impacted by pro-2A consumers avoiding their stores, good job folks!
wctriumph
12-02-2018, 22:15
I have not been in a Dick's since maybe 2004 when I went to see if I could trade a 20 gauge Coach Gun for the same in 12 gauge. The buyer, a dick himself, offered me $75 for trade in against a $350 new one. Never went back and never will.
I never forgave them for what they did to Galyan's.
Haven't been within spitting distance of one since they pulled that shit with the cancelled Troy AR orders.
My wife wanted to go look at life jackets for our Grandson there and I reminded her why we don't shop in that store EVER. Dick's is dead to us.
Jeffrey Lebowski
12-03-2018, 06:37
I’m actually shocked most of you care.
I don’t really think it has much to do with guns, but I might be wrong. Who wants an AR and thinks, “Hey, Dick’s!” Not me...
And that is true up and down their entire lineup. It is bland top to bottom.
You can go get running shoes there....but not the best running shoes.
You can go get a treadmill there....but not the best treadmills.
You can go get a fishing pole or tackle there....but not the best fishing gear.
You can go get a bike there....but not the best bikes there.
You can go get a baseball glove there....but not the best gloves.
Ray and Bob can get yoga pants there....but not the best yoga pants.
You could go get an AR or shotgun there....but not the best ones.
You can get a Yeti cooler there....but they are price controlled and available many other places.
Is the enthusiast buying their stuff at Dick’s, or at the specialty store? I’d bet very few folks here got their favorite AR at Dick’s.
The serious runner is going to a running shop, not Dick’s....and on down the line.
This is true for every single thing they sell. They tried to blame their woes on UnderArmor too. It is a fine store for “just good enough” when you need it in a pinch, or if they run a sale on something. I got an 870 there b/c it had a sale and huge rebate, but I wouldn’t have gone there looking for a high end Italian auto loader.
So the most memorable thing about the whole franchise is the name?
Serves them right. I will not walk into one of their stores.
Meh...they can go by way of the dodo.
BPTactical
12-03-2018, 12:14
Nice move....Dick
clodhopper
12-03-2018, 14:02
Dumping the hunting and fishing..... That would make them basically Sports Authority. That client base worked out real good for SA.
There is very little they sell that people aren't already gravitating to online purchase.
Little Dutch
12-03-2018, 14:46
Anyone else remember when Dicks sold surplus military weapons? I bought several Enfields from Dicks way back when.
It was probably an effort to compete with Big 5 back when Mosin Nagants were under $100 and available at any Big 5 at any time.
buffalobo
12-03-2018, 15:10
https://www.getzone.com/news-dicks-admits-sales-affected-by-gun-sale-restrictions/
Meh, they still made money. Glad none of it was mine.
I’m actually shocked most of you care.
I don’t really think it has much to do with guns, but I might be wrong. Who wants an AR and thinks, “Hey, Dick’s!” Not me...
And that is true up and down their entire lineup. It is bland top to bottom.
You can go get running shoes there....but not the best running shoes.
You can go get a treadmill there....but not the best treadmills.
You can go get a fishing pole or tackle there....but not the best fishing gear.
You can go get a bike there....but not the best bikes there.
You can go get a baseball glove there....but not the best gloves.
Ray and Bob can get yoga pants there....but not the best yoga pants.
You could go get an AR or shotgun there....but not the best ones.
You can get a Yeti cooler there....but they are price controlled and available many other places.
Is the enthusiast buying their stuff at Dick’s, or at the specialty store? I’d bet very few folks here got their favorite AR at Dick’s.
The serious runner is going to a running shop, not Dick’s....and on down the line.
This is true for every single thing they sell. They tried to blame their woes on UnderArmor too. It is a fine store for “just good enough” when you need it in a pinch, or if they run a sale on something. I got an 870 there b/c it had a sale and huge rebate, but I wouldn’t have gone there looking for a high end Italian auto loader.
FWIW, I did buy an SBE II there, on sale, before they got to be huge Dicks. I think the only other time I set foot in one after that was while traveling on business, I lost my pocket streamlight and needed a flashlight, and there was one closer to my hotel than anything else.
SideShow Bob
12-03-2018, 22:31
Nice move....Dick
You wasted a good insult/comeback on a POS company.
Jeffrey Lebowski
12-03-2018, 23:24
FWIW, I did buy an SBE II there, on sale, before they got to be huge Dicks. I think the only other time I set foot in one after that was while traveling on business, I lost my pocket streamlight and needed a flashlight, and there was one closer to my hotel than anything else.
Ha!
I had a hunch I could be wrong on that point when I made it. [Beer]
I’m sure somewhere they sold Garlands and a few other cool things too.
I’ve seen a few Wilson A2000s, and some authentic NHL jerseys too. But for the most part, it is middle of the road stuff. Fine for 95% of us, but not for the specific enthusiast, usually. I harbor no ill will, but I don’t exactly frequent them either.
It's interesting to watch Dick's basically alienate the traditional outdoor sportsman market. I mean, I guess they can do that, but it's not a big deal, because their competition (Bass Pro, Sportsman's Warehouse, etc.) have better selections of products for better prices.
Thing is, though, alienating that market leaves them basically with catering to the outdoor crunchy granola crowd and the suburban soccer mommies who jog and do yoga.
But even there, what's the value proposition of Dicks for the crunchy types? They don't sell anything that REI doesn't already sell, and REI does a much better job of connecting with their customer base and giving them a satisfactory and philosophically acceptable lifestyle experience than Dick's could ever hope for, and probably at a better price point to boot.
So that leaves them with selling to the suburban soccer mommies, who are all just going to buy their yoga pants at Lulu Lemon and their under armor pretty much anywhere else.
The bottom line is that Dick's operates in a market that has a lot of competitors, and the only thing they've done to stand out from the crowd was by pissing off half of the people who would have otherwise considered shopping there.
BladesNBarrels
12-04-2018, 10:59
Maybe they can change their inventory and strategy to compete with REI
[beatdeadhorse]
BPTactical
12-04-2018, 12:51
This crap reminds me of a few years ago when Gart Bros was selling out. They had boxes of Winny white box 5.56 on closeout at $4.99 per box. I got with the manager and she checked and yes, it was the correct price. She asked me how many boxes I wanted and I in return asked how many she had.
35
"I will take them all". Not a problem.
The look on the soccer moms faces in front of me and behind me at the register was great, I am standing there with 35 boxes trying not to dump them. I get to the cashier and she says "All sales on ammo are final and there are no returns."
"The only time I return ammo is if somebody is shooting at me"
The cashier went pale and the soccer mom behind me went to the other register.
BPTactical
12-04-2018, 13:32
https://www.marketwatch.com/video/ceos-of-aetna-and-dicks-sporting-goods-on-gun-control/B168B0D5-60FB-497D-8360-20FEB43A8D94.html?mod=bnbh
68Charger
12-04-2018, 15:09
This crap reminds me of a few years ago when Gart Bros was selling out. They had boxes of Winny white box 5.56 on closeout at $4.99 per box. I got with the manager and she checked and yes, it was the correct price. She asked me how many boxes I wanted and I in return asked how many she had.
35
"I will take them all". Not a problem.
The look on the soccer moms faces in front of me and behind me at the register was great, I am standing there with 35 boxes trying not to dump them. I get to the cashier and she says "All sales on ammo are final and there are no returns."
"The only time I return ammo is if somebody is shooting at me"
The cashier went pale and the soccer mom behind me went to the other register.
<Frantically searching for LIKE button> [ROFL1]
68Charger
12-04-2018, 15:13
https://www.marketwatch.com/video/ceos-of-aetna-and-dicks-sporting-goods-on-gun-control/B168B0D5-60FB-497D-8360-20FEB43A8D94.html?mod=bnbh
Is it just me, or does he look like a bobble head doll in that suit?
If the top execs at Dick's didn't realize that eliminating gun sales would also have a negative impact to their overall sales volume then they are retarded. All of the gun owners I know that have been paying attention to Dick's stance on firearms has STOPPED buying ANYTHING from Dick's. I will never step foot in one of those stores again and tell everyone I know not to either. They have the freedom to refuse to support or sell any products and I have the freedom to refuse to do business with them. Seems like pretty basic business rules to me.
OtterbatHellcat
12-04-2018, 18:39
I never liked dicks.
:)
Jeffrey Lebowski
12-05-2018, 06:51
It's interesting to watch Dick's basically alienate the traditional outdoor sportsman market. I mean, I guess they can do that, but it's not a big deal, because their competition (Bass Pro, Sportsman's Warehouse, etc.) have better selections of products for better prices.
Thing is, though, alienating that market leaves them basically with catering to the outdoor crunchy granola crowd and the suburban soccer mommies who jog and do yoga.
But even there, what's the value proposition of Dicks for the crunchy types? They don't sell anything that REI doesn't already sell, and REI does a much better job of connecting with their customer base and giving them a satisfactory and philosophically acceptable lifestyle experience than Dick's could ever hope for, and probably at a better price point to boot.
So that leaves them with selling to the suburban soccer mommies, who are all just going to buy their yoga pants at Lulu Lemon and their under armor pretty much anywhere else.
The bottom line is that Dick's operates in a market that has a lot of competitors, and the only thing they've done to stand out from the crowd was by pissing off half of the people who would have otherwise considered shopping there.
Yep. You make an interesting point, and I cannot disagree. It is a lot like what I was trying to say.
They’ve probably calculated that they can sell more North Face coats to city kids and college students than the average hunter who will buy 1 or 2 long guns every few years. But if they are seen as “the problem” by anti’s, they won’t sell either.
I think they’re going for convenience. If I’m a soccer mom, it might not be my favorite place for the lululemon, but I also need soccer cleats for the kids and I don’t have time to go to (I have no idea - athleta? Prana?) since I gotta get home and make dinner before basketball practice for the other kid.
But if you are great at nothing, and everything is just a commodity, what is your differentiator? I suppose the fact that Bass Pro or the one specialty yoga shop in town are a bigger pain to get to than every mall in the metro area.
Dick’s will remove hunting rifles from 125 stores (https://finance.yahoo.com/news/dicks-will-remove-hunting-rifles-from-125-stores-170829124.html)
Shares of Dick’s Sporting Goods beat Wall Street expectations on its top and bottom lines in its 2018 Q4 earnings report on Tuesday, but shares sank more than 10% on a decline in same-store-sales and disappointing guidance for 2019.
And Dick’s is ditching two key parties in 2019: hunting and Reebok.
Removing hunting items from 125 stores
Last year, Dick’s removed hunting items from 10 stores where it underperformed. After the removal, those stores generated positive comp sales in Q4. “Following this success,” Dick’s CEO Ed Stack said on the Q4 earnings call, “we will remove Hunt from approximately 125 additional Dick's stores in 2019 where the category underperforms.”
Dick’s defines the hunting category as rifles and ammunition, plus “accessories associated with firearms, hunting apparel, anything associated with hunting,” Dick’s president Lauren Hobart clarified later on the call. “It would not include kayaks and other outdoor activities like that.”
No real sportsmen shop at Dick's. This should give them more space to sell yoga pants.
So.... Dick's will have dick to sell?
Dick’s will remove hunting rifles from 125 stores (https://finance.yahoo.com/news/dicks-will-remove-hunting-rifles-from-125-stores-170829124.html)
No real sportsmen shop at Dick's. This should give them more space to sell yoga pants.
Correctamundo and perfectly fine with me!
TEAMRICO
03-12-2019, 19:02
Mmmmm more yoga pants!
Dick's= never a good news in ANYTHING.
Oh, just short seller had a great day shorting the DKS. LOL
[LOL]
.455_Hunter
03-12-2019, 21:52
This crap reminds me of a few years ago when Gart Bros was selling out. They had boxes of Winny white box 5.56 on closeout at $4.99 per box. I got with the manager and she checked and yes, it was the correct price. She asked me how many boxes I wanted and I in return asked how many she had.
35
"I will take them all". Not a problem.
The look on the soccer moms faces in front of me and behind me at the register was great, I am standing there with 35 boxes trying not to dump them. I get to the cashier and she says "All sales on ammo are final and there are no returns."
"The only time I return ammo is if somebody is shooting at me"
The cashier went pale and the soccer mom behind me went to the other register.
Soon, such actions would get you a red flag by the time you left the parking lot.
OtterbatHellcat
03-12-2019, 21:56
I think we're up to 16? Amendment 2 Sanctuary Counties now?
I hope that list continues to grow.
TheSparkens
03-13-2019, 05:13
This is one store that I haven't been in for years and I will never go again. It's great that a county declares they are a sanctuary but the city's and towns within them enforce the Colorado law as it becomes law. Douglas County is one of the counties. Most of the well-populated areas in DougCo are in there towns and those officers inforce the new laws. This is a big problem with that. It would be great if I called 911 and got a county cop but that is not the case for most.
This is one store that I haven't been in for years and I will never go again. It's great that a county declares they are a sanctuary but the city's and towns within them enforce the Colorado law as it becomes law. Douglas County is one of the counties. Most of the well-populated areas in DougCo are in there towns and those officers inforce the new laws. This is a big problem with that. It would be great if I called 911 and got a county cop but that is not the case for most.
I guess that's a plus for Highlands Ranch never incorporating as a township. DCSO is our local law enforcement.
As for the current sheriff...I'm not pleased with his actions.
I guess that's a plus for Highlands Ranch never incorporating as a township. DCSO is our local law enforcement.
As for the current sheriff...I'm not pleased with his actions.
Ditto here.
Surrounded by Parker on three sides, but DougCo LE and county services (like plowing) which sucks in Parker proper.
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