Dick’s Sporting Goods Is Tumbling – But Don’t Blame Its New Policy on Guns
Dick’s Sporting Goods Inc. has vowed to limits sales of guns. Its problem, however, is poor sales of everything else.
Only weeks after winning accolades from gun-control advocates for ending sales of assault rifles at its Field & Stream stores, Dick’s posted a deeper-than-expected sales decline. Its stock sank the most in four months Tuesday in the wake of the quarterly report, which reflected struggles with excess inventory and deep discounting.
Showing Harpo’s posts to be, as usual, bullshit.
The future had appeared bright after Sports Authority collapsed in 2016, leaving Dick’s as the last national chain of its kind. But price cutting by competitors and tepid demand for items like basketball shoes have hammered the stock and put pressure on profit margins.
The company is also facing a threat from Nike, the largest sports brand in the world, which has been pushing more of its customers to its own stores and websites. And Amazon.com Inc. is promoting its own private-label athletic gear.
". . . those who claim to know the Mind of God, who will tell you what God thinks and how He will judge and condemn others—those people are the greatest of all blasphemers." Aloysius Xingu Leng Pendergast