Dick’s Sporting Goods sales, stock plummet after stopping AR-15 sales
Dick’s Sporting Goods sales and stock have plummeted after they decided to cease AR-15 sales, shortly after Newtown. They bowed to the anti gun zealot crowd and decided to stopped selling AR-15s. Now only did Dick’s Sporting Good stop selling the AR-15s, they didn’t bother filling orders for those who purchased the guns before the Newtown shootings happened. Since then Dick’s Sporting Goods sales have dropped 2.2 percent. As far as their stock, the 52 week high was $54.24. Today, after the Dow Jones saw a 100+ point gain, Dick’s Sporting Goods is only at $48.65.
The Dick’s CEO claims that the drop in sales and stock is because of Lance Armstrong.
“People had a very negative reaction to the Livestrong brand.”
Like Obama, they blame something else for their problems. This is of course complete and utter bullshit as other sporting goods stores such as are Cabela’s sales are up 24% year to year, and their stock hit a 52 week high last week. Guns.com reports:
Gun sales accounted for almost two-thirds of Cabela’s gains, with their sales up by 24 percent over last year.
“First-quarter results exceeded our expectations on every line of the income statement,” said Cabela’s Tommy Millner. “In addition to expected increases in firearms and ammunition sales, we saw particularly strong performance in softgoods and footwear.”
Still, some analysts believe Cabela’s firearms earning to be temporary, with the massive surge in the sales of everything gun-related expected to wane now that the bulk of federal gun control bills have failed to pass muster.
“Without firearms and ammunition, same-stores sales increased just 9 percent — still strong, but clearly much of Cabela’s growth was driven by gun buyers,” wrote Jeremy Bowman of the Motley Fool. ”As the stock has now tripled in the past year and a half, investors may want to take a cue from their senators and sell while the stock is hot.”
Dicks looks like they took it up the rear with their bowing to left wing zealots. Too bad, so sad, you suck Dick’s Sporting Goods.