$150 million in sales.
Of course they didn’t have to buy the weapons to stock in their stores.
Their annual sales in 2017 was $7.3 Billion. $150 million isn’t that big of a deal I wouldn’t think.
They are still dicks though.
The very new store near me (Central TX) is closed.
Profit margins in retail are a small percentage of sales. I’d wager that a loss of $150 million took a big bite out of net profits.
It doesn’t work like that. Guy goes in for a rifle, he might buy a jacket, boots, fishing pole, camping equipment. Then in off season he buys weights, running shoes etc.
Only now, he don’t go there for his rifle. He thinks Dicks dislikes him. He never buys all that other stuff. It’s like that.
That's how much they lost on gun sales (so they say). What is missing is all the extra sales people buy while in the store for those hunting trips (e.g. coolers, tents, beef jerky, etc.). Based on Shack's statement that the "boycott has ended" and "we did the right thing", I suspect sales are down a lot more that we're led to believe.
I'd give them two-three years.
A 2% decrease in sales because of one product is huge. Especially for brick and mortar stores, and especially when the product makes the store a destination for the customer.
(I would think a shopper would go a store to buy a hunting rifle and pick up other stuff aswell, like camping equipment, socks, gloves, etc. Few people have a favorite glove store and decide to buy a rifle while they are there.)
They had negative same store sales. I worked at Wal-Mart’s corporate HQ for 5 years. They would get PISSED if same store sales growth wasn’t high enough. I can’t even imagine the fecal matter storm that would have resulted from declining same store sales.
Dicks managed to achieve this at a time when Target had its best quarter in 15 years and Wal-Mart had its best quarter in 12 years. There’s no way to spin this as anything but a disaster for Dicks. Its an ongoing one too. People like yours truly will never buy one single thing there ever again.