CEO Edward Stack told analysts that Under Armour’s decision to sell more of its merchandise through lower-cost outlets like Kohl’s and Macy’s has hurt sales at Dick’s.
“We experienced significant declines in Under Armour sales as a result of their decision,” he said after Dick’s on Wednesday reported fourth straight quarter of slumping sales.
It’s not only that, their decision to rid their stores of so-called assault rifles and refusal to sell to anyone under 21 are major reasons for their decline in sales. It started immediately after they made their decision, but they don’t care.
The decline is in hunting and electronics as well as Under Armour products.
Dick’s won’t be changing their mind about guns and forcing their anti-Second Amendment values on us, they will just abandon hunters.
Dick’s is phasing out electronics altogether, while also de-emphasizing sales of hunting gear and stopping sales of assault-style rifles in February.
They are considering eliminating all hunting gear from all 732 stores.
Dick’s is “looking at a number of stores where the hunt category significantly underperforms.” Additional moves will involve deciding what’s “a smart thing to do from a business standpoint,” CEO Stack said.
They would replace it with higher end baseball and soccer goods.
“Sales continue to be negatively impacted by double-digit declines in hunt and electronics,” CFO Lee Belitsky said. “Specific to hunt, in addition to the strategic decisions we made regarding firearms earlier this year, the broader industry has decelerated and remains weak, as evidenced by most recent background-check data” for firearms purchases.
The latter is somewhat questionable although prohibitive anti-Second Amendment laws are being passed in a number of states.
They don’t care if they lose money as long as they can trash our civil rights.