Dick's stock plunges on poor gun and sports sales [View all]

[bronxiteforever]

August 15, 2017: CNN Money



The stock price plummeted 18% after a quarter-to-quarter gain still fell short of expectations. It's the worst day of trading in company history and executives painted a bleak picture going forward.

"The hunting business was very soft, and [same-store] sales declined double digits," said Chief Finance Officer Lee Belitsky in an earnings call, noting that the decline was "worse than expected."
The hunting category includes not only camouflage clothes, deer blinds, trail cameras, duck decoys and tree stands, but also guns. The company sells rifles, shotguns and black-powder guns typically used for hunting, including "small frame" rifles for kids.

http://money.cnn.com/2017/08/15/investing/dicks-sporting-goods/index.html