TOLD THEM SO: Dick’s Sporting Goods Just Found Out Their Gun Ban Has Cost Them DEARLY

The thing that a lot of people simply do not understand about places of business and products that can be sold is that nobody is forcing anyone to buy anyone.

Many people are of the notion of letting the market sort itself out. If someone doesn’t like something, let them not buy it but don’t force a store into a situation where they make a decision that they know is going to be an awful idea.

For example, whenever I would go into a sporting goods store to buy something for my home gym when I was younger I would always buy the items geared towards boxing training as opposed to the things geared towards kayaking because I didn’t exactly live near any lakes or rivers at the time and it was easier for me to get exercise setting the heavy bag up in my garage.

It doesn’t mean that I was stopping the sporting goods store from selling kayaks, I just didn’t buy one.

Same thing with guns, if you don’t like guns don’t buy one. End of discussion.

However, Dick’s Sporting Goods had to cave into liberal pressure to stop selling a certain number of guns in their stores.  As if folks that wanted to legally buy a gun couldn’t buy one to begin with somewhere else. Dick’s acted like all the guns were simply going to go away if they ended up not selling them anymore which is out and out laughable. All it did for the sporting goods chain is hurt their bottom line.

From Daily Wire:

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.


Leave a Reply

Daily Headlines