Dick's stock plunges on poor gun and sports sales

[bronxiteforever]

August 15, 2017: CNN Money



The stock price plummeted 18% after a quarter-to-quarter gain still fell short of expectations. It's the worst day of trading in company history and executives painted a bleak picture going forward.

"The hunting business was very soft, and [same-store] sales declined double digits," said Chief Finance Officer Lee Belitsky in an earnings call, noting that the decline was "worse than expected."
The hunting category includes not only camouflage clothes, deer blinds, trail cameras, duck decoys and tree stands, but also guns. The company sells rifles, shotguns and black-powder guns typically used for hunting, including "small frame" rifles for kids.

http://money.cnn.com/2017/08/15/investing/dicks-sporting-goods/index.html

[ret5hd]

1. Uhhhh...uhhhmmm...BwaaaHaaaHaaaHaaa!

[MyOwnPeace]

2. Should have been

selling Tiki torches!

[bronxiteforever]

4. Lol

[PJMcK]

3. A slightly amusing tale

A couple of years ago, I stopped at a Dick's on Long Island on my way to golf with some buddies. I needed some balls and I had a gift card. Since I had a couple of hours before our tee time, I thought I'd go to Dick's then get breakfast on the way to the course.

I arrived a few minutes before the store opened and there were three other guys already waiting to get in. We chatted briefly until the store's manager arrived to open the doors. After saying good morning to us, he bluntly stated that they were sold out of all ammunition and wouldn't get any more until the following week.

All three of the other guys left dejected and upset. I told the manager that I needed ammunition of a different sort! He laughed and told me that ever since Barack Obama had become president, there had been a run on ammunition and stores all over Long Island were having trouble keeping up their stocks of bullets.

Since I'm not into guns, I have no idea if his story was true or if the shortages continue. However, I've found Dick's to be an excellent store for all sporting goods and they are generally my first stop. Perhaps they'll improve their sales by promoting the other sports they supply.

[HeartachesNhangovers]

5. I'm a non-competitive target shooter and for

a couple of years 22 ammunition was impossible to find on store shelves. People would find out what days ammo shipments were scheduled to come into stores (Walmart, Dick's, Big5, etc), get there when the store opened and buy it all up. The shortage abated early this year and now the supply situation is normal.