The shoplifting crisis is legit so bad that it's starting to hugely impact the market cap of the companies suffering from it:
Dick's Sporting Goods reported a 23% drop in profits and slashed its earnings guidance for the year after it saw an uptick in retail theft and slow sales in its outdoor category, the company announced Tuesday.
For the first time in three years, Dick's fell short of Wall Street's estimates on the top and bottom lines. It also announced cuts to its global head count. The company's shares fell 24% Tuesday, wiping out the stock's 22% year-to-date gain through Monday's close.
I'd feel worse if Dick's wasn't insufferably woke. If only there were a way for the stores to defend themselves from this long-term, high-volume bleed out! Unfortunately, if you remember from a few years ago, the company systematically emptied itself of its best tool for doing so: they made a big PR stunt out of pulling aSsAuLt wEaPoNs and other guns off their shelves:
They also posted heavily about support for BLM and "equity" (conflating it with equality like most wokies).
And don't forget that Dick's is super gay!
Well, the equity is coming home to roost as corporate Marxism comes to the inevitable end of bankruptcy and degeneracy.
The company was projected to hit $3.81 per share; it ended up at $2.82. It was also expected to post $3.24 billion in revenue; it ended up with $3.22 billion.
Dick's is losing big numbers, all because a bunch of low-life petty scumbags keep boosting clothing and sports equipment from their stores around the country.
How much do you think that needs to be happening to make a dent in their corporate valuation? (Hint: It has to be happening a lot.)
The company has further "lowered its profit forecast for the year" because it expects the crisis to get worse before it gets better. They're clearly not anticipating that anyone — law enforcement, government, anyone — is going to address this.
You're getting the world you wanted, Dick's! 😂
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