Earlier this year, Dick’s Sporting Goods caved into demand from gun control activists and announced the company would no longer sell “assault-style rifles,” high-capacity magazines or any gun to people under 21 years of age. How’s that been working out for them? Dan Bongino spotted a story that answers that question easily:
https://twitter.com/dbongino/status/1034802315566477313
D’OH!
Gun policy, Under Armour weakness hit Dick's Sporting sales https://t.co/N4BigNwbNf pic.twitter.com/af9AMHxLST
— Reuters Top News (@Reuters) August 29, 2018
DICK'S blames new gun policy for weak sales… https://t.co/B21mZSepMz
— DRUDGE REPORT (@DRUDGE_REPORT) August 29, 2018
Via Reuters:
Dick’s Sporting Goods (DKS.N) reported a bigger-than-expected drop in quarterly same-store sales on Wednesday and forecast further declines this year, hit by tighter gun controls and a drop in Under Armour sales.
Shares in the company fell as much as 10 percent after it posted a 1.9 percent drop in same-store sales, bigger than analysts’ average estimate of a 0.62 percent dip.
Dick’s was one of the first retailers to stop selling assault rifles and high-capacity magazines as well as bar the sale of guns to people under age 21 following a massacre at a Florida high school in February.
The company had predicted that its hunting guns business would be pressurized by the change in policy but said the move should also attract more people to its stores.
Dick’s said on Wednesday it expected annual same-store sales to decline by 3 percent to 4 percent, compared with a 0.3 percent decline in 2017.
Enjoy staying in business while placating activists who probably don’t even shop at your stores anyway, Dick’s!
BREAKING: driving off regular customers to please a tiny group of noisy activists who would never dream of shopping at your store proves to be a poor business model https://t.co/NRBaeyogJT
— John Hayward (@Doc_0) August 29, 2018
When you adopt a policy that turns away an entire segment of your customer base, that's what happens. Less people through the doors = less money in the tills. No getting around that.
— Assault Clip (@assaultclip) August 29, 2018
Yep.
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