Posted on 06/01/2018 4:22:02 PM PDT by Extremely Extreme Extremist
(CNN Money) — Back in February, Dick’s Sporting Goods made a bold decision to stop selling assault style rifles and high capacity magazines, and to raise the minimum age to purchase a gun to 21.
Executives there braced for pain. Instead they got good news.
Dick’s Sporting Goods stock price surged by as much as 27% after it reported stronger than expected quarterly sales and profit Wednesday.
It’s the first measure of their decision to pull away from some guns.
(Excerpt) Read more at boston.cbslocal.com ...
A bumped stock price means they reported solid earnings. So yes, business is doing well. You can put your head in the sand and pretend it isn’t so, but it is.
...
Their stock price has gone down considerably since Trump was elected while the rest of the market has gone way up. They aren’t doing well.
Read between the lines and check the stock online. Current 52wk is -13.80% and closed today -3.42%. When your stock is way down and you do better than your lousy projections, then sure, you could get a sharp... temporary spike.
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It looks like shorts covered their positions. Dicks is doing terrible while the Trump economy is booming.
Lorena Bobbitt, is that you?
Sure it can. Why leftists are all sports eh persons and love fishing and camping.
If I’m buying a rifle — any kind of rifle — I’m going to a real gun shop. Maybe I’d go to a Bass Pro or Cabela’s because they are oriented to hunting & fishing. Dick’s wouldn’t even be on my radar.
Quarter. When did Dick’s make the announcement? A month ago? Let’s see what next quarter brings.
Yeah, you and Lorena Bobbit!!!!
I agree with your first sentence - but have a different take on the rest.
I think what is unrefutable is Dicks would be looking at much smaller numbers if they DIDN’T get into gun politics.
I think they have cleverly used gun politics to market their brand.
First - the false claim that they were going to stop selling assault rifles after Parkland - they had already stopped selling them after Sandy Hook - (only their Field & Stream brand sold ARs) - but that was a clever ploy to put their name in the news - and head off the more minor story that Nick Cruz had bought a gun at Dicks.(not one used in the shooting)
And they likely get a sales boost from people who might buy their next soccer ball their because of the perception that Dicks is “anti-gun”. Fine - money is money. Raising the age limit to 21 is really the only recent change in policy - the story is - Dick’s still sells guns.
I’m choosing to not get too bent out of shape by this.
Fact is - ever been to a Dick’s? Its not really a retail model that would seem conducive to selling guns. These are hourly wage sales clerks that seems a step up from convenience store fare. Maybe they have a specialty employee for gun stuff.
I have to admit - I don’t think I’ve ever noticed guns at my local Dick’s. But it’s only a place I visit once or twice a year - maybe a Grandkids birthday or Christmas.
We have a nice long-lived local gun and fishing store - I would feel wrong NOT patronizing those guys for honest too goodness outdoorsy stuff. No effing around there.
But - for the next baseball glove - Im probably still ok with Dicks.
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