Dick's takes a dive

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DontTreadOnMe
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Dick's takes a dive

Post by DontTreadOnMe »

Gun policy, Under Armour weakness hit Dick's Sporting sales
Dick’s Sporting Goods (DKS.N) reported a bigger-than-expected drop in quarterly same-store sales on Wednesday and forecast further declines this year, hit by tighter gun controls and a drop in Under Armour sales.

Shares in the company fell as much as 10 percent after it posted a 1.9 percent drop in same-store sales, bigger than analysts’ average estimate of a 0.62 percent dip.Dick’s was one of the first retailers to stop selling assault rifles and high-capacity magazines as well as bar the sale of guns to people under age 21 following a massacre at a Florida high school in February.

The company had predicted that its hunting guns business would be pressurized by the change in policy but said the move should also attract more people to its stores.

Dick’s said on Wednesday it expected annual same-store sales to decline by 3 percent to 4 percent, compared with a 0.3 percent decline in 2017.
CNN's coverage is titled "Dick's Sporting Goods' rough quarter had nothing to do with guns" but the Reuters story says the opposite:
“We had expected comp weakness in hunting and electronics, as well as continued pressure in Under Armour and less benefit from store maturation, but these trends caused more pressure than anticipated,” Telsey analyst Joseph Feldman said.
Other articles point out that Dick's is also facing pressure from Amazon and that Nike - their largest customer - is shifting toward more direct sales and away from retailers like Dick's. Wow, sounds like tough times ahead for them. Too bad.
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Re: Dick's takes a dive

Post by bignflnut »

If the analysts are saying .62% drop and you get 1.9% drop...that's 3x.
Oooof.
Now you're stuck with a bunch of real estate that isn't wildly profitable while your competitors are simply using automated warehouses to crank out sales. It's not a pretty picture.

Here's a quick lesson in retail
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Re: Dick's takes a dive

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Well, I just hope the people of the gun just stay away from Dicks, since Dicks told them to do so.
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Re: Dick's takes a dive

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Mr. Glock wrote:Well, I just hope the people of the gun just stay away from Dicks, since Dicks told them to do so.
I hear you,... just the other day i won a 20 dollar dicks gift card :roll: :? not sure what to do with it.
Can i change it out somehow. :?:
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Re: Dick's takes a dive

Post by Brian D. »

steves 50de wrote:
Mr. Glock wrote:Well, I just hope the people of the gun just stay away from Dicks, since Dicks told them to do so.
I hear you,... just the other day i won a 20 dollar dicks gift card :roll: :? not sure what to do with it.
Can i change it out somehow. :?:
Save it for their going out of business sale.
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Re: Dick's takes a dive

Post by DontTreadOnMe »

steves 50de wrote:
Mr. Glock wrote:Well, I just hope the people of the gun just stay away from Dicks, since Dicks told them to do so.
I hear you,... just the other day i won a 20 dollar dicks gift card :roll: :? not sure what to do with it.
Can i change it out somehow. :?:
This site will give you a $15 Amazon gift card for it:
https://www.cardpool.com/sell-dicks-spo ... gift-cards" onclick="window.open(this.href);return false;

I've never used that site, but I've used similar services for a couple gift cards I had no use for, and had no problems. YMMV
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Re: Dick's takes a dive

Post by Bruenor »

steves 50de wrote:
Mr. Glock wrote:Well, I just hope the people of the gun just stay away from Dicks, since Dicks told them to do so.
I hear you,... just the other day i won a 20 dollar dicks gift card :roll: :? not sure what to do with it.
Can i change it out somehow. :?:
Some of the Giant Eagles have automated kiosks for trading in unused gift cards. no idea what the rate is.
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Re: Dick's takes a dive

Post by deanimator »

"We spit in our customers' faces and now they're not buying from us. We just don't get it..." - DICK'S Sporting Goods
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Re: Dick's takes a dive

Post by pirateguy191 »

Dick's takes a lickin.
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Re: Dick's takes a dive

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pirateguy191 wrote:Dick's takes a lickin.
Do we have to go their. :lol:
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Re: Dick's takes a dive

Post by qmti »

I heard on the radio noon news that Dicks is getting out of the hunting merchandise and will have only athletic and outdoor sportswear/gear by the end of the year.
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Re: Dick's takes a dive

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pirateguy191 wrote:Dick's takes a lickin.
That's what she said. :mrgreen:
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Re: Dick's takes a dive

Post by Mr. Glock »

qmti wrote:I heard on the radio noon news that Dicks is getting out of the hunting merchandise and will have only athletic and outdoor sportswear/gear by the end of the year.
That’s a great idea. Because urbane sophisticated millenials who wear such things all the time haven’t heard of Amazon yet.
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Re: Dick's takes a dive

Post by DontTreadOnMe »

qmti wrote:I heard on the radio noon news that Dicks is getting out of the hunting merchandise and will have only athletic and outdoor sportswear/gear by the end of the year.
With luck they'll be out of those markets by the end of next year.
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Re: Dick's takes a dive

Post by Brian D. »

Don't forget that Dick's also owns Field & Stream. I drive past the one in northern Kentucky; the lot isn't ever crowded, even on weekends.
Quit worrying, hide your gun well, shut up, and CARRY that handgun!

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