Posted on 08/30/2018 2:15:50 AM PDT by abb
Dicks Sporting Goods Inc. DKS -2.17% said weaker sales of Under Armour Inc. apparel and a decision to pull back from the hunting business dragged on the retailers latest quarterly results.
Comparable-store sales fell 4%, Dicks said. Not adjusting for the 53rd week last year, the companys same-store sales declined 1.9%.
Dicks said part of the companys sales problems were a result of Under Armours decision to sell in more stores including Kohls. Under Armour declined to comment.
Also hurting sales was Dicks decision to tighten its policy on gun sales after 17 people were killed in a February shooting at a Parkland, Fla., high school. The retailer halted sales of any firearms to people under age 21 at all of its 845 Dicks and Field & Stream stores and stopped selling assault-style weapons at Field & Stream.
Under Armours results accounted for three percentage points of declining sales at Dicks, while weakness in the hunting and electronics categories contributed two percentage points of decline. When excluding Under Armour and the hunting and electronics business, comparable-store sales fell 1%.
(Excerpt) Read more at wsj.com ...
WHAT 53rd WEEK???
I have done accounting & bookkeeping for over 61 years. I never did ANY books that had 53 weeks.
Only dicks....shop at Dicks!
Maybe they shouldnt have jumped the gun.
LOVE IT!!!
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