It's the worst day of trading in company history and executives painted goods bleak picture going forward.
DICK'S Sporting Goods Black Friday 2018 Ad, Deals & Sales
The hunting category includes not only camouflage clothes, deer blinds, sporting 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. Demand for hunting gear has been trending down. The Federal Bureau of Investigation reported a plunge online background checks for gun purchases dolly buster anal sex July.
Dick's Sporting Goods
Dick said that too much supply has led to "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.
Dick's does not break out gun sales individually, but sales have experienced an industry-wide decline since 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.
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Dicks Sporting Goods Catalog
Dick's also sells shoes and apparel for a wide variety of sports, catalog baseball to soccer to biking to kayaking. But the market for sporting goods is suffering, too. Sales are down 4. Will NRA-backed Trump actually hurt the gun industry?