• Dick's Sporting Goods says new gun policy will impact sales, shopper vi

    From Gene Poole@21:1/5 to All on Thu Aug 1 13:50:31 2019
    XPost: alt.education.research, alabama.politics, alt.politics.usa.constitution.gun-rights
    XPost: ca.politics

    CORAOPOLIS, Pa. — Dick’s Sporting Goods on Tuesday reported
    disappointing holiday sales numbers in part due to weak demand
    for one-time hot brands like Under Armour.

    The company’s CEO also said recent changes to its firearm
    policies, ending the sale of guns to anyone under 21, will hurt
    future sales and may cause fewer shoppers to come to its stores.

    Last month, Dick’s stepped into the national spotlight when, in
    the aftermath of a school massacre in Parkland, Florida, it
    banned the sale of assault-style rifles and the sale of all guns
    to anyone under 21. Other retailers followed suit, including
    Walmart, which also raised its minimum age rules for firearms.

    Sales fell 2 percent at established stores during the fourth
    quarter, which was about double the decline that Wall Street was
    expecting. Industry analysts watch that figure closely as a
    barometer of a retailer’s health as it excludes the volatility
    of stores recently opened or closed.

    To try and improve sales, CEO Edward Stack said the company will
    give more store space to its private-label brands, such as
    Second Skin workout apparel. Its store brands are growing faster
    than others, and Stack expects them to surpass $2 billion in
    sales in a “short period of time,” but did not give an exact
    time for that to happen.

    Stack said that the company’s new firearms policy “is not going
    to be positive from a traffic standpoint and a sales standpoint.”

    Dick’s expects full-year earnings of about $2.80 to $3 per
    share. Analysts polled by FactSet predict $2.79 per share.

    For the period ended Feb. 3, Dick’s Sporting Goods Inc. earned
    $116 million, or $1.11 per share. A year earlier the company,
    based just outside of Pittsburgh in Coraopolis, Pennsylvania,
    earned $90.2 million, or 81 cents per share.

    Excluding certain items, earnings were $1.22 per share. That’s 2
    cents better than analysts expected, according to a survey by
    Zacks Investment Research.

    Revenue rose to $2.66 billion, from $2.48 billion, with online
    sales up about 9 percent. But that was still shy of Wall Street
    projections for $2.73 billion.

    Shares of Dick’s Sporting Goods Inc. ended Tuesday up 32 cents,
    or about 1 percent, at $32.88 after dipping to $29.53 earlier in
    the day.

    https://www.denverpost.com/2018/03/13/dicks-sporting-goods-gun- age-will-impact-sales/

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