Wait, I thought all the smash and grab looting was just for equity or something because the people doing are poor? Dicks Sporting Goods, the Bud Light before there was a Bud Light profits have crashed after their woke agenda that lead to things like making excuses for smash and grab looters they now call “organized retail theft”. Dick’s Sporting Goods profits have crashed and it’s wonderful to see.
Dick’s Sporting Goods disclosed Tuesday that quarterly profits plummeted nearly 25% after the retail chain became a target of “organized retail theft.”
The Pennsylvania-based company said that second-quarter profits dropped 23%, despite sales revenue increasing 3.6% over the same time period.
Last year, Dick’s Sporting Goods reported a net income of $319 million in the second quarter. This year, profit amounted to only $244 million in the second quarter.
“Our Q2 profitability was short of our expectations due in large part to the impact of elevated inventory shrink, an increasingly serious issue impacting many retailers,” CEO Lauren Hobart said in a statement.