Dick's Sporting Goods blames equity ... SORRY ... 'organized retail crime' for MASSIVE drop in profits

Sam J. | 12:25 PM on August 22, 2023

Dick's Sporting Goods has had a rough few years. Guess when you care more about playing politics than you do about your business ... that sort of comes with the territory. It looks like they are yet another retailer suffering at the hands of policy more concerned about 'equity' than protecting the people and you know, stopping crime.

What's that old saying? Go woke? We forget.

Many first-time Black achievements are happening within the sports industry as diversity, equity, and inclusion become a priority. It’s essential that we not only share these stories of triumph, but we work towards a future where equality is the norm. #MoreFirsts pic.twitter.com/8qxWBj0OXD
— DICK'S Sporting Goods (@DICKS) February 1, 2021

Yeah, lots of this on their Twitter/X feed.

Interesting, yes?

Dick’s Sporting Goods blames ‘organized retail crime’ for 23% drop in profits https://t.co/ItlY2ezgma pic.twitter.com/geYagAVJ0i
— New York Post (@nypost) August 22, 2023

From the New York Post:

Dick’s Sporting Goods on Tuesday blamed “organized retail crime” for sinking its quarterly profits by nearly 25% as the company slashed its full-year earnings outlook.
The popular retail chain reported a 23% drop in profits in the second quarter across its more than 700 stores nationwide — despite sales rising 3.6%.
Dick’s attributed the losses to “organized retail crime and our ability to effectively manage inventory shrink,” an industry term used to describe stolen or lost merchandise.
“Our Q2 profitability was short of our expectations due in large part to the impact of elevated inventory shrink, an increasingly serious issue impacting many retailers,” Dick’s president and CEO Lauren Hobart said.
Dick’s share price plunged more than 20% after Tuesday’s opening bell.