BigBlue wrote:Don't feed the troll, people...
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. 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.
Dick's Sporting Goods told investors during the Goldman Sachs Retailing Conference that its gun-control stance hurt sales of its hunting business, outdoors business, and that it may close its outdoor-focused Field & Stream stores.
Edward Stack, chairman and CEO of Dick's, said during the event that the sporting goods chain's recent 3.9 percent drop in same-store sales was the result of a mix of factors beyond their control as well as some he called "self-imposed." Specifically, he said, "the decisions we made on firearms" negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation.
Grayskies wrote:Dick’s Sporting Goods Says Gun-Control Stance Hurt Business, May Close Field & StreamDick's Sporting Goods told investors during the Goldman Sachs Retailing Conference that its gun-control stance hurt sales of its hunting business, outdoors business, and that it may close its outdoor-focused Field & Stream stores.
Edward Stack, chairman and CEO of Dick's, said during the event that the sporting goods chain's recent 3.9 percent drop in same-store sales was the result of a mix of factors beyond their control as well as some he called "self-imposed." Specifically, he said, "the decisions we made on firearms" negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation.
https://freebeacon.com/issues/dicks-spo ... ld-stream/
Investors should fire the CEO.
Bearcatrp wrote:Maybe they should ask Bloomberg for a bail out since they took his advice! I still hope they go bankrupt!!!
Grayskies wrote:Dick’s Sporting Goods Says Gun-Control Stance Hurt Business, May Close Field & StreamDick's Sporting Goods told investors during the Goldman Sachs Retailing Conference that its gun-control stance hurt sales of its hunting business, outdoors business, and that it may close its outdoor-focused Field & Stream stores.
Edward Stack, chairman and CEO of Dick's, said during the event that the sporting goods chain's recent 3.9 percent drop in same-store sales was the result of a mix of factors beyond their control as well as some he called "self-imposed." Specifically, he said, "the decisions we made on firearms" negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation.
https://freebeacon.com/issues/dicks-spo ... ld-stream/
Investors should fire the CEO.
LePetomane wrote:A lot of Monday morning quarterbacking here from people who never had to do a payroll. Collect a paycheck every week and go home. Fire the CEO? Easy for you girls to say.
armedwalleye wrote:When you abandon that share of your customer base that continues on an ongoing basis to buy multiple guns, weapons, accessories, ammo, etc., and depend on that share of your customer base that buys squash racquets, little squash outfits and balls to pick up the slack, well, you get what you get.
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