Fear & Loading: Dick’s Closing More Gun Departments, Despite Plummeting Sales

by
posted on March 13, 2019
fayetteville-dicks.jpg

A financial report issued this week by Dick’s Sporting Goods, with figures that cover the year since it enacted policies that drew criticism from Second Amendment supporters, shows the firm’s, “… same-store sales fell 3.1 percent in the 12 months that ended Feb. 2 from the comparable period a year earlier,” according to the New York Times. The corresponding decline in profit, however, didn’t deter the company from also announcing it will stop selling firearms, hunting gear and associated products at another 125 of its nearly 850 retail stores. Ten of its outlets closed their departments in the fall.

The Wall Street Journal notes, “Dick’s has struggled with declining sales since its CEO Ed Stack made a public decision to stop selling guns to buyers under 21 and take assault-style weapons [sic] out of all stores …” Company income for the last quarter, according to USA Today, totaled $102.6 million. The figure a year ago, pre-policy, stood at $116 million.

“Public reaction to the policies Dick’s introduced after the Parkland shooting was a ‘meaningful driver’ in the declines, Mr. Stack said in a conference call with analysts on Tuesday,” according to the New York Times article. MSN Money ominously reported, “Dick’s Sporting Goods dropped ‘the bomb’ in its earning call that has hurt a number of retail stocks of late and investors should refrain from buying shares, CNBC’s Jim Cramer said Tuesday.” Stocks in the publicly traded firm dropped by more than 10 percent during the day’s trading.

Selection in the stores was vastly reduced early last year when Mossberg, Springfield Armory, Hi-Point, Hogue and many others in the industry pulled their wares from the retailer. Dick’s Sporting Goods was also expelled from National Shooting Sports Foundation membership. The  financial impact was felt as early as August, when the company’s quarterly report reflected a drop in same-store-sales 3 times higher than anticipated.

The company didn’t release locations that will have firearm and hunting gear removed from inventory.   

Latest

Real Avid Bore Max
Real Avid Bore Max

Preview: Real Avid Bore-Max Speed Clean System

Real Avid introduces a new set of bore brushes, jags and jag patches, aimed at simplifying the process of cleaning out barrels with fewer passes needed.

American Arms of the Battle of the Bulge

American G.I.s thwarted Hitler’s last-ditch offensive, even though Hitler threw the best men and weapons that he had available against America's troops in the Ardennes. Here the author looks at the small arms used by our troops to stop the Nazi war machine dead in its tracks.

Heckler & Koch P7: H&K's 'Squeeze-Cocking' Pistol

First designed in 1976, Heckler & Koch's P7 gas-delayed blowback pistol stand out from most all other handguns with its unique squeeze-cocking mechanism.

M1903A4 Development: The U.S. Army’s Search for a Sniper Rifle

Despite the lessons learned during World War I, the U.S. Army lacked a purpose-built sniper rifle throughout the interwar period, even after efforts were made to develop one. The need became more apparent as World War II loomed, leading to the adoption of the M1903A4, with its developmental history explored here.

The Rock Island Arsenal Model of 1903

Although the names “Springfield” and “’03” are virtually synonymous, that gives short shrift to the other
government facility that made the venerable “U.S. Rifle, Caliber .30, Model of 1903”—The Rock Island Arsenal.

NRA Gun of the Week: Hi-Point Firearms C9

On this week’s “Gun of the Week” video preview, American Rifleman staff examines a budget-friendly semi-automatic pistol from Hi-Point Firearms.

Interests



Get the best of American Rifleman delivered to your inbox.