Skip to comments.Dick’s Sporting Goods shares tumble on dismal holiday sales
Posted on 03/13/2018 6:54:52 AM PDT by Obadiah
Dick's Sporting Goods on Tuesday reported fourth-quarter earnings that slightly topped analysts' estimates, but revenue and same-store sales fell short.
Its shares were down 4.7 percent in premarket trading following the announcement.
Net income totaled $116 million, or $1.11 a share, for the quarter ended Feb. 3, compared with $90.2 million, or 81 cents per share, a year ago.
Excluding one-time items, the company earned $1.22 a share, 2 cents above analysts' estimates in a Thomson Reuters survey.
Revenue was $2.66 billion, below analysts' expectations for $2.74 billion in sales.
(Excerpt) Read more at cnbc.com ...
Dick's could have built a strong and loyal customer base, but now they will have to rely on the vagaries of the local soccer moms. Good luck with that.
I go to Cabela’s. They’re not Dicks.
That’s a shame, Dick.
Prezackly. I wouldn’t buy any gun at Dicks because they suck at it but now will not buy anything else from them either.
Do you think they know that there are other places to buy sporting goods stuff?
Dick’s could turn itself around in one day:
1) Appoint Ted Nugent as CEO.
2) Announce he is reverseing the previous decision about guns
3) Anounce the store will be giving free gun-safety CCW training classes in every store every weekend
Meanwhile one of my brothers bought a Ruger 556 along with five 40rd magazines and ammunition to fill them. Magazines and ammo came direct to the house and the rifle to an FFL dealer down the road. All from SportsmanOutdoor - there’s a phrase I could use to describe Dick’s but won’t use it.
But until then there is no reason to go to Dicks. I can not believe a Sporting Goods store can purposefully degrade their firearms department and remain competitive. When they dont sell firearms that are not available at WalMart and their ammo is ore expensive than WalMart why go to Dicks?
So making a big weasely gun control statement will surely help them financially. Great idea there.
Obviously Christmas preceded the Florida incident but I take your point.
I admit I strolled through Dick’s about once a month and did some shopping there at Xmas but only after exhausting all other options.
Like other big box stores, Dick’s used its real estate, marketing and purchasing budgets to devastating effect in pushing local competitors and even lesser national competitors off the cliff. But at least Dick’s offered significant variety in both price point and functionality in its various departments (shoes, athletic wear, golf, etc.).
Now that the competition has mostly faded, so has any attempt by Dick’s to maintain their standard of merchandise. They are now a Walmart-ish stack-em-high-and-sell-em-cheap grind joint.
To some extent they can claim to be at the mercy of OEMs. When oil prices spiked the makers of footwear and clothing claimed that they were getting killed on raw materials, manufacturing and transportation/shipping. Because the market would have responded negatively to price hikes, they began to issue absolute junk under the rubric of minimalism and/or ‘performance fabrics’ (read: polyester). It’s important to note, however, that once oil prices stabilized at historic relative lows the same OEMs did not improve or restore their quality of manufacture - in many cases because they had already signed long-term contracts with Chinese plants.
Still, Dick’s problems are mostly of its own making. The gun issue will definitely further erode sales. But like other big box stores they have cut back on inventory, variety and quality and then have the brass neck to blame Amazon for their troubles. All Amazon is doing is offering the variety that big box stores once did. Many people would still rather make a 30 minute trip to a store to buy an item rather than wait for a shipment, even an overnight one, but the retailers simply don’t stock the goods anymore.
About 3 years ago I bought a 243 Savage bolt rifle from them (they had the best price strangely enough), the sales clerk was clueless about FFL matters, had to return to store when a manager with some knowledge was at the store. Was never going to buy from them again, that of course has not changed.
What a bunch of idiots. Do they think their best gun customers are leftists? And what did they think would happen....MORE leftists would shop there or MORE conservatives wouldn’t.
I tried to buy petite women’s golf clubs and they were rude and condescending.
I walked out and found them online.
I heard Cabela’s was now owned by Bass Pro?
Dick with us Dick’s and you get the horns!
The Dick’s in California are more than 1/3 women’s clothing anyway.
They might as well go to 100 percent and change their name to Janes.
Yes. And their prices went up to Scheels prices. So now I go to Scheels and use my Cabelas card.
For actual gun sales I go to independent dealers, greater selection, more knowledgeable, better prices and can order anything imaginable.
They might sell a few more bicycles and soccer balls, but that is about it. The high margin stuff like hunting and camping gear can be bought everywhere else by people who hate the idea that Dick’s has turned themselves in Pussy’s.
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