With their share prices cratering, this is their big plan to save the company?
Between the sales beating their stores took after giving gun owners the finger after the Stoneman Douglas school shooting, and Amazon eating their lunch, Dick’s Sporting Goods is in a world of hurt right now.
Maybe we’d feel more bothered about it if they didn’t cave to public pressure and turn their backs on the Second Amendment. #GetWokeGoBroke is a hashtag for a reason, after all.
They’re losing money to online business, and only doing well in things that are exclusive and cannot be purchased online.
What did their marketing wizards come up with as a strategy? Cut out their hunting rifles.
Dick’s Sporting Goods is going to stop selling guns in some of its stores.
The retailer’s CEO made the announcement Tuesday saying it will pull hunting gear from 125 stores starting around August. The locations have not been announced.
Dick’s says it will replace the firearms with other sporting goods.
The move comes amid declining sales.
Source: WNEP
Let’s see — on one hand, you’ve got a big ticket item, that requires secondary purchases to use and maintain it, has all kinds of up-sell opportunities for related accessories ranging from scopes to outdoor gear. On the other hand, you have a basketball and a baseball glove.
And they’re discontinuing their HUNTING lines?
Their earnings are in a tailspin, which is something we predicted oh, about a year ago.
Dick’s Folds To Gun Control Lobby – So The Internet Put Them On Full Blast
And you don’t need an MBA to have seen the blowback coming:
Dick’s Embracing Of The Left’s Gun Control Blather Was A BAD Move – Massive Shutdowns Coming
We’ve just moved into another stage of the crippling impact of the company’s public act of self-neutering.
Dick’s Sporting Goods “dropped the bomb” in its earnings call that has hurt a number of retail stocks as of late and investors should refrain from buying shares, CNBC’s Jim Cramer said Tuesday.
The sports retail giant told shareholders that it will have to invest in its online business, which grew from 19 percent to 23 percent over the past year, to fend off competition from Amazon. The expensive move to capture online shoppers is reflective of the overall market and could ruin the company’s margins, Cramer said.
“That means Dick’s needs to spend even more money building out its own omni-channel presence while also suffering from lower gross margins because competition from Amazon always puts pressure on your pricing,” the “Mad Money” host said.
Source: CNBC
Gee, that’s a lot easier than admitting to the hunters who USED to shop there that your kneejerk reaction against the Second Amendment was short-sighted and offensive to their clientele.
But will it WORK?
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