Dick's stock plunges on poor gun and sports sales
It's the worst day of trading in company online and executives painted a bleak picture going forward. The hunting category includes not only camouflage clothes, deer blinds, trail cameras, duck decoys and tree dick, erotic gay hypnosis story also guns. The company sells rifles, shotguns and black-powder guns typically used for hunting, including "small frame" rifles for kids. Demand for hunting gear has been trending down.
The Federal Bureau of Investigation reported a plunge in background checks for gun purchases in July. He said that too much supply has led sporting "promotional pricing" in the hunting industry to try and get rid of the "inventory overhang.
The supply chain has to be cleaned out," he said.
Yorktown Heights, NY DICK'S Sporting Goods | Jefferson Valley Mall
Dick's does not break out gun sales individually, but sales have experienced an industry-wide decline catalog the election of President Trump, even though he's a Republican endorsed by the National Rifle Association.
Retailers and customers had stocked up on guns and ammunition expecting Democrat and gun control advocate Hillary Clinton to win, but sales have spiraled downward ever since Trump's victory. Trump is hurting gun sales. Dick's also sells shoes and apparel for goods wide variety of sports, from baseball to soccer to biking to kayaking.
But the market for sporting goods is suffering, too. Sales are down 4.