DICK's Tells Investors Its Decision to Get Rid of Guns Turned Out to Be COSTLY

politics
December 03, 2018Dec 03, 2018

Dick’s Sporting Goods became heroes of the left when the company took a number of anti-gun measures in response to mass shootings.

The company stopped selling certain so-called “assault weapons” and issued new guidelines regarding whom they would sell firearms.

https://twitter.com/WSJ/status/1067878317267853323

The decision has apparently hurt their bottom line more than the executives expected.

"Looking forward, gross margin-driven upside appears less probable given 3Q's performance, changing comparisons, and rising inventory levels,"Analyst Christopher Horvers said of Dick’s.

The company’s chief financial officer, Lee Bolitsky, specifically brought up the gun issue during a call with investors last week.

“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 said. “We believe this also contributed to the decline.’'

https://twitter.com/journalnews/status/1068200329089556482

Just how bad is the decision to betray the Second Amendment hurting the company's bottom line?

"There were 182,093 background queries through the FBI's National Instant Criminal Background Check System last Friday. That was a significant drop from the 203,086 checks on Black Friday in 2017, which set a single-day record. The previous one-day highs also occurred on Black Friday, with 185,713 queries in 2016, and 185,345 in 2015," USA Today reported.

Following the anti-gun crusade, it seems hunters have abandoned Dick’s as well. Due to this fact, the company is exploring the possibility of ditching hunting gear as well, replacing it with baseball-related merchandise.

https://twitter.com/CBSNews/status/1068001960022982656

"We are looking at a number of stores where the hunt business significantly under performs, and we will assess whether we want to take it out and replace it with these other categories if that ends up  to be a smart thing to do from a business standpoint,’’ CEO Ed Stack said on the call with investors.

Americans don't take kindly to any infringement on the Second Amendment.

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