Posted on 09/04/2018 5:01:18 AM PDT by marktwain
Dick's Sporting Goods is reaping the results of entering politics as a corporate entity.
The purpose of public corporations is to make money for their stockholders. Fortunately, over half of Americans own stock. If you want some corporate profits, add stocks or an index fund to your 401k or other retirement accounts.
When corporations move away from their basic purpose, and into the political realm, they cannot help by alienate some potential customers. When you reduce potential customers, you reduce profits.
Dick's Sporting Goods decided to alienate a significant number of potential customers. They decided to take sides in an acrimonious political debate. They decided to stop carrying certain rifles in their stores, for purely political reasons. They decided to stop selling rifles and shotguns to an entire age group: 18, 19, and 20-year-old people.
There are about 80-100 million gun owners in the United States. Gun owners, as a group, have somewhat higher incomes than people who do not own guns. The political decision to alienate such a large group of potential customers has taken its toll. From foxbusiness.com:
The embattled sports retailer reported a same-store sales decline of 4 percent compared to the same period one year earlier, or about 1.9 percent when not accounting for the 53rd week in the year. For the full year, Dick’s expects same-store sales to fall by 3 percent to 4 percent, compared to a 0.3 percent decline last year.
“We delivered double digit growth in ecommerce, private brands, and athletic apparel
(Excerpt) Read more at ammoland.com ...
Like making a movie about the space race and leaving out the flag. Who’s going to watch that? Antifa? No.
Total dumbass move!!
>>Offending customers is a risky business.<<
As Nike is about to learn.
“As Nike is about to learn.”
As well as a significant number of their retail outlets, I suspect.
Listen up Nike.
53rd ???? IIRC it's 52 weeks.
If there was only one single sport merchandise outlet in your local town....they’d have the power to play this game. They felt they’d hold some market share after the change, and they guessed wrong.
I think what will happen in three to four years....is that someone will come up and buy Dicks (maybe Wal-Mart)...at a discounted sales price, and it’ll be renamed, and dumping this strategy of theirs.
Next up, Nike. I find Nike to be the most abhorrent of them all. A spokesman that has made it clear he hates America, the Police, the military etc?! How does this sell shoes in America?
Yeah....but they're OK with the idea of our young men taking up arms and giving their lives to protect their old, crusty, sorry ass liberal butts from the muslims... :(
It’s only risky if their institutional investors give a damn.
Wonder how sales of Nikes at Dicks is doing....?
Problem is people realize the can live without what you are “selling” whether it’s Dick’s, Nike, Dixie Chics or Fox News.
The old saying, never get to big for your own britches, applies.
And if the large ones have a different agenda, something other than profit, then the little guys are gonna get screwed.
Paging the SEC.
Perhaps they mean 53 weekends. That could happen, though I’m too lazy to go find a calendar and see if last year was like that. Sales are probably higher on weekends, so they’d want to correct for the extra weekend for an accurate comparison.
My guess is their fiscal year does not follow the calendar year but is 12 four week periods. That way each period is the same number of days. Makes it easier to compare sales and profits per period since they have the same number of days. Every few years one period will have an extra week to get the fiscal calendar back close to the yearly calendar.
In Cleveland, that huge Nike sign portraying LeBron looking very Christ-like (JMHO) came down as soon as LeBron left. This Kaepernik logo, in my mind, portrays the same sacrilegious mimicry. What is NIKE conveying? That black sports stars are our new God? I was offended by the LeBron portrayal, didn't buy Nike because of it, am more offended now.
If I were a Nike stockholder, I'd be really, really offended. I'm tempted to put a super-low vulture "buy" order on it, just in case a sell off gets out of control. <^..^>
As in Oregon they should now face age discrimination lawsuits and federal civil rights investigation for it, costing their dear stockholders millions.
Pissing on the shoes of a large segment of your customer base to satisfy people who haven’t ever been in your store is stupid. Ergo, the company’s management is stupid. So, Mr. and Mrs. Stockholder, what are you going to do about it?
Dick’s Sporting Goods,
Target
Nike
These names are becoming verbs for describing lefty looniness.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.