Dick’s Sporting Goods CEO Blames Increase in Theft For 23% Drop in Profit Despite Sales Increasing 3.6% in Q2
Thank a Democrat.
Dick’s Sporting Goods reported a 23% drop in profit despite sales increasing 3.6% in Q2.
The company’s CEO Lauren Hobart blamed an ‘increasingly serious’ retail theft problem for the drop in profit.
“Smash-and-grab” theft is on the rise thanks to soft-on-crime Democrat policies.
Masked thieves routinely ransack retailers such as Nordstrom, Macy’s, and sporting goods stores in Democrat hellholes like California and Chicago.
“Our [second-quarter] 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.
CNN reported:
Dick’s Sporting Goods warned Tuesday that retail theft is damaging its business and would lead to lower annual profits.
