"Analysts have no clue" because DKS's performance has been fine despite grudges such as yours. True it might have been better but we will never know to what extent. DKS loss is the gain of Cabella's, Gander Mountain and small shops; good for them. It's a great country!
I wish all my fellow posters here, especially the old timers, a happy new year. 2013 has been very profitable for me with DKS playing a large part in the performance.
Looking back 3+ years, stock price breaks below the 200 DMA in the 30 RSI area have been profitable times to buy. It takes strength of conviction to buy when others are fearful. DKS of course isn't the only stock falling as we speak.
Per Cabela's management in today's conference call, "Based on our fourth quarter and year-to-date results, the surge in firearms and ammunition is clearly winding down. Recall, in the fourth quarter of 2012, comp store sales were up 12%. Although comp store sales declined 10.1% in the quarter, due primarily to firearms and ammunition each being down roughly 25% to 30%....".
DKS has pre-announced positive Q4 comp store sales of 7% versus Cabela's (10.1%). It will be interesting to see if DKS management breaks out comp sales of their firearms and ammunition lines. I don't recall them getting so granular in the past but I expect a reduction per said trends. Suffice it to say their decision to limit firearms sales of any design may have come at a fortuitous time.
Search for "SEC Live Filings Digest" to find out more.
#$%$’s Sporting Goods Inc. (DKS) announced its financial results for the fourth quarter and full fiscal year 2013, posting a profit increase of 6.9% in fourth quarter. The sporting goods retailer reported revenues of $1.95B, up 7.9% from a year ago while company overhead increased 7.2% to $402.9M. Quarterly earnings were $138.6M and $1.11 per share, up from $129.7M and $1.03 per share in the year-ago quarter. #$%$’s is projecting first quarter earnings per share between $0.51 and $0.53 per share while analysts estimate earnings of $0.54 per share. Chairman and CEO Edward Stack commented that the company expects double-digit earnings growth in 2014 and intends to build on the work it has completed in the 2013 fiscal year.
While D**k's has never sold handguns to my knowledge, plenty of sporting firearms are for sale on the website. Go to the Guns & Ammo section on the drop down menu under the Outdoors category. They are definitely NOT exiting the line of business! Good luck.
I used to spend a lot at #$%$, and not just on guns but on recurring items such as ammo. Ammo alone for me was several thousand dollars per year. Good luck making up that difference on sports bras over the long term. One thing about 2A advocates is that we have a long memory.
I used to shop there but will never spend a dime there again because of their removing AR's from stores. How many analysts are shooters or even know a shoot?
I think this is the reason why DKS was up only 77 cents after an upgrade and well below its high. The market knows what the analysts are clueless about.
Sentiment: Strong Sell