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Get Woke, Go Broke? DICK'S Sporting Goods Warns Investors That Decision To Get Rid Of Guns Cost Company Dearly


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https://www.dailywire.com/news/38935/dicks-sporting-goods-warns-investors-our-decision-emily-zanotti

 

 


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.

 

The analyst pointed out that Dick's same-store sales growth for 2019 is expected to be less than 1 percent after averaging 2.1 percent between 2011 and 2015. He also noted that while the company's 25 percent Black Friday store discount will help boost sales, it will not boost margins," the analyst continued. "Inventory levels, meanwhile, rose 1 percent in the third quarter after falling 5 percent in the first half of 2018 with inventory days estimated to return back to 2015-2017 levels."

 

Dick's says it can trace the downturn not just to an overall retail downturn, but also directly to its decision to take action on "gun control," banning the sales of "assault-style" rifles at its Field & Stream affiliated retailer and discontinuing any gun sales to people under the age of 21.

 

Speaking to USA Today, Lee Bolitsky, Dick's chief financial officer, called out the company's gun sales plan directly, but also pointed out that gun sales are down across the board — not just at Field & Stream (largely the result of the Trump administration, which is not the kind of pointed threat to gun rights its predecessor was).

 

"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 told investors. "We believe this also contributed to the decline.''

 

But while Bolitsky didn't come out and say it directly, it seems that Dick's' decision to cut down on its gun sales had an impact in other areas of its business. Gun owners and pro-gun consumers may not be ale to buy their guns from Dick's any longer, but they also seem to have made the conscious decision not to trust Dick's as an outfitter for any of their other needs — particularly their hunting needs.

 

Dick's has seen a decline in sales of its hunting gear overall — such a decline that they're considering removing hunting and outdoors equipment from all of their stores in order to boost their bottom line and cull some of their excess inventory.

 

"Months after Dick's Sporting Goods made the move to stop selling assault-style rifles, the company is now considering removing all hunting gear," a Texas ABC affiliate reported on Friday. "Dick's CEO Edward Stack revealed during a conference call that they removed all hunting gear from 10 stores as a test run."

 

Those stores — including stores in Texas — will replace the hunting gear with more "traditional sporting goods," like "baseball, licensed products, and outerwear."

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"Months after Dick's Sporting Goods made the move to stop selling assault-style rifles, the company is now considering removing all hunting gear," a Texas ABC affiliate reported on Friday. "Dick's CEO Edward Stack revealed during a conference call that they removed all hunting gear from 10 stores as a test run."

 

Those stores — including stores in Texas — will replace the hunting gear with more "traditional sporting goods," like "baseball, licensed products, and outerwear."

So it didn't work before, so just go farther. And that's going to bring in new customers ... how?

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so sad! 😰😥😪🎻🎻🎻🎻

 

I never use Get Woke because of its origin. Just saying. It just has a bad connotation for me as it is mostly being used now by Progressives/Liberals. I am not in anyway suggesting anyone shouldn't use it or about it's use here. Just my feelings only.

 

Origin...

 

The Black Lives Matter movement is responsible for the widespread use of the word woke.

Woke is a political term of African American origin that refers to a perceived awareness of issues concerning social justice and racial justice.[1] It is derived from the African American Vernacular English expression "stay woke", whose grammatical aspect refers to a continuing awareness of these issues. Its widespread use since 2014 is a result of the Black Lives Matter movement.[1][2]

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so sad!

I never use Get Woke because of its origin. Just saying. It just has a bad connotation for me as it is mostly being used now by Progressives/Liberals. I am not in anyway suggesting anyone shouldn't use it or about it's use here. Just my feelings only.

Origin...

The Black Lives Matter movement is responsible for the widespread use of the word woke.

Woke is a political term of African American origin that refers to a perceived awareness of issues concerning social justice and racial justice.[1] It is derived from the African American Vernacular English expression "stay woke", whose grammatical aspect refers to a continuing awareness of these issues. Its widespread use since 2014 is a result of the Black Lives Matter movement.[1][2]

Thanks. I was thinking this was some idiotic oprah crap. Similar to being “authentic” .

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so sad!

I never use Get Woke because of its origin. Just saying. It just has a bad connotation for me as it is mostly being used now by Progressives/Liberals. I am not in anyway suggesting anyone shouldn't use it or about it's use here. Just my feelings only.

Origin...

The Black Lives Matter movement is responsible for the widespread use of the word woke.

Woke is a political term of African American origin that refers to a perceived awareness of issues concerning social justice and racial justice.[1] It is derived from the African American Vernacular English expression "stay woke", whose grammatical aspect refers to a continuing awareness of these issues. Its widespread use since 2014 is a result of the Black Lives Matter movement.[1][2]

So use of the word means one could be accused of cultural appropriation...a term that conflicts directly with actual American culture of being a "melting pot".
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I see this news as a two part positive. First, to see this chain of retail stores hurting after taking an anti-2nd Amendment stance warms my heart that many good Americans are voting with their dollars. Second, as stores like Dick's move out of the gun and ammo business, the small local gun stores have the opportunity to pick up the slack. And anything that helps the local stores stay financially viable is a very good thing in my opinion. The last three handguns that I have bought were at local small, Mom-and-Pop type gun stores. I paid a tad more than I might have had I bought online, but so be it. And if Dick's totally goes out of business, it won't bother me at all.

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The use of the term "get woke", in a sarcastic and taunting tone, is completely appropriate. Read the thread title again. It is not instructing us to get woke about Dick's going broke. It is stating that Dick's management made a conscious decision to get woke (by the definition you provided above) and is now as a result going broke.

 

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The use of the term "get woke", in a sarcastic and taunting tone, is completely appropriate. Read the thread title again. It is not instructing us to get woke about Dick's going broke. It is stating that Dick's management made a conscious decision to get woke (by the definition you provided above) and is now as a result going broke.

Exactly, It's used in the Sarcastic, throw it back in their faces standpoint.

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Used to buy a few things there; but not much. Nothing since they pulled the stunt with the ARs.

 

Still kicking myself though for not buying a Sage spin travel kit for like $120 on clearance at the Field and Stream in Champaign quite a while (a year or two) back. I thought about a long time in the store and even picked it up. I wanted a slightly longer one so I didn't go ahead and buy it; but then I almost turned around on my way home. Checked on my next trip and it was gone. I have a Sage fly fishing rod with Ross reel that cost several times that. I don't take time to fish or do much fun stuff any more; but I do wish I had purchased that kit.

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