Dick’s Posts ‘Deeper than Expected’ Losses Weeks After Taking Anti-Gun Stance
Same-store sales have been slumping and are expected to stay that way for another year, according to the company. Analysts had estimated these sales would only drop 1.2 percent; instead, they dropped 2 percent last quarter.
Gun enthusiasts won’t be surprised to learn that the gun and hunting parts of Dick’s business has been “extremely soft,” according to Sam Poser, analyst for Susquehanna Financial Group. He told Fortune that Dick’s decision to limit gun sales was a “prudent decision both from a business and PR perspective,” though it’s unclear why angering a customer base would ever be a prudent business decision.