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Dickís CEO Says Anti-Gun Policy Shrank Company by a 'Quarter Billion Dollars' Rate Topic: -----

#1 User is offline   MTP Reggie 

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Posted 10 October 2019 - 01:08 PM

Dick's CEO Says Anti-Gun Policy Shrank Company by a 'Quarter Billion Dollars'
Now spending company money lobbying for gun control
Stephen Gutowski
OCTOBER 9, 2019 5:00 AM
Free Beacon

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The CEO of Dick's Sporting Goods told CBS News this weekend that his decisions to stop selling certain guns and hire lobbyists to push for new gun bans have cost his company roughly $250 million.

CBS Sunday Morning host Lee Cowan asked Dick's CEO Ed Stack how much his company lost after the retailer decided to stop selling firearms to anyone under the age of 21.

"About a quarter of a billion," Stack replied. "Pretty close."

Stack also said the company destroyed $5 million worth of rifle inventory because Stack believed no one should be allowed to own them.

"I said, 'You know what? If we really think these things should be off the street, we need to destroy them,'" he told CBS.

In the interview, Stack was unapologetic about the loss of hundreds of millions of dollars worth of revenue. He said the company lost about as much money as he expected it to lose when he decided to institute a new gun control posture.

That is consistent with Stack's previous statements on the losses associated with his decision. In the company's 2018 annual report, he wrote that gun sales were a "sizeable part" of Dick's business and that his push for the company to support new gun control laws significantly hurt that business. However, this did not make him reconsider his decision to use company resources to lobby for gun control and to remove certain guns from stores.

"The hunting category is a sizeable part of our business; however, there has been an overall slowdown in sales in this category since the announcement of our new firearms policy," the annual report read. "Despite this, we continue to believe that implementing this new policy is the right decision for our athletes and our communities. In fact, if we could go back and revisit it, we would still make the same choice today."

Still, the same annual report noted that the company's alienation of both the gun industry and gun owners led directly to a significant drop in its gun business and could continue to have an impact going forward.

(snip)

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This post has been edited by MTP Reggie: 10 October 2019 - 01:15 PM

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#2 User is offline   MTP Reggie 

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Posted 10 October 2019 - 01:10 PM

In other news, Dick's stock value...

https://thestatuswoe.files.wordpress.com/2013/08/arrow-going-down-on-chart.jpg

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#3 User is offline   Taggart Transcontinental 

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Posted 10 October 2019 - 01:13 PM

I guess that was the selling point for making this chucklehead CEO of the company. "Reduce overhead, and profitability by 25% or more!".
Hell of a selling point Mr CEO. Don't let the door hit ya where the Lord split ya.

Virtue Signalling 101, make sure the virtue you signal is what the customers want you to signal.

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#4 User is offline   mjperry51 

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Posted 10 October 2019 - 01:41 PM

I wonder how those actions are in the best interest of the stockholders. . .
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#5 User is offline   RedSoloCup 

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Posted 10 October 2019 - 01:59 PM

Play stupid games, win stupid prizes...
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#6 User is offline   NH Populist 

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Posted 10 October 2019 - 02:00 PM

I'm one their customers who took the attitude, "Don't want to sell me a gun, you won't sell me anything". And they haven't.
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#7 User is offline   RedSoloCup 

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Posted 10 October 2019 - 02:01 PM

http://i.redd.it/xdyql74f7fk01.jpg
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#8 User is offline   corporal_little 

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Posted 10 October 2019 - 02:02 PM

Nothing is worse than shrunken Dick's.
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#9 User is offline   Severian 

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Posted 10 October 2019 - 02:29 PM

The shareholders should be demanding his head on a pike. You want to get preachy, do it with your own money.
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#10 User is offline   Noclevermoniker 

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Posted 10 October 2019 - 03:39 PM

View PostNH Populist, on 10 October 2019 - 02:00 PM, said:

I'm one their customers who took the attitude, "Don't want to sell me a gun, you won't sell me anything". And they haven't.

They built a store here in the Woodlands just outside my window in about 2017. They were already squawking about their gun sales policies then. Never entered the store as a result. I buy sporting goods (and guns) at Academy Sports. Academy has a great selection, great prices, and no apologies for offering it. Black rifles included.
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#11 User is online   erp 

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Posted 10 October 2019 - 03:56 PM

Since the board hasnít fire his ass yet, I guess they are ok with this.


Morons.
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#12 User is offline   SARGE 

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Posted 10 October 2019 - 04:03 PM

View Posterp, on 10 October 2019 - 03:56 PM, said:

Since the board hasnít fire his ass yet, I guess they are ok with this.


Morons.


Family owned majority. :whistling:
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#13 User is online   Rock N' Roll Right Winger 

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Posted 10 October 2019 - 04:10 PM

I haven't bought anything from Dick's for over 16 years and I've never bought any guns or ammo from them EVER because they have always been too expensive vs the other stores and their selection was always very limited.

We've got a Bass Pro Shops and a Cabelas here in our area as well as Academy Sports.

With these MUCH better stores around, who gives a dick about Dick's?

They can go pound sand along with Gillette and Nike and virtue signal themselves into bankruptcy.
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#14 User is online   Rock N' Roll Right Winger 

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Posted 10 October 2019 - 04:11 PM

View PostSeverian, on 10 October 2019 - 02:29 PM, said:

The shareholders should be demanding his head on a pike. You want to get preachy, do it with your own money.

Anyone who has bought shares in this company gets what they deserve.
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#15 User is online   Dean Adam Smithee 

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Posted 10 October 2019 - 05:42 PM

View PostNoclevermoniker, on 10 October 2019 - 03:39 PM, said:

They built a store here in the Woodlands just outside my window in about 2017. They were already squawking about their gun sales policies then. Never entered the store as a result. I buy sporting goods (and guns) at Academy Sports. Academy has a great selection, great prices, and no apologies for offering it. Black rifles included.


Last firearm I bought at a 'chain' was an M1 Carbine for ~$30 at Woolworths in West Palm Beach FL in '81 or '82. These days, small private shops - places where neither you nor the merchandise are treated as mere commodities.

Unfortunately, I have to deal with Dick's on other things. They now own "Sports Authority" after SA went chapter 11 a year or two ago, And I've got several nieces and nephews playing school sports for whom Sports Authority Dick's is the official Team supplier. I'll suck it up, take one for their Teams, so to speak.
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#16 User is online   zurg 

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Posted 10 October 2019 - 06:25 PM

View Postcorporal_little, on 10 October 2019 - 02:02 PM, said:

Nothing is worse than shrunken Dick's.

:lol:

View PostSeverian, on 10 October 2019 - 02:29 PM, said:

The shareholders should be demanding his head on a pike. You want to get preachy, do it with your own money.

Yes, there could be justifiable lawsuits. A shareholder can not reasonably expect a company to deliberately hurt itself.
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#17 User is offline   gravelrash 

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Posted 10 October 2019 - 06:47 PM

Don't sell guns. Don't sell bullets. Don't sell gear. Don't sell promo items. Don't sell candy bars in the checkout lane. It adds up, nyah.
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#18 User is offline   Ticked@TinselTown 

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Posted 10 October 2019 - 08:07 PM

View PostSeverian, on 10 October 2019 - 02:29 PM, said:

The shareholders should be demanding his head on a pike. You want to get preachy, do it with your own money.


He's just living up to the company name...
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#19 User is offline   RedSoloCup 

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Posted 11 October 2019 - 04:52 AM

View PostTicked@TinselTown, on 10 October 2019 - 08:07 PM, said:

He's just living up to the company name...


:biglaugh:
Touche
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#20 User is offline   ASE 

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Posted 11 October 2019 - 08:21 PM

That's what they get for being such dicks!
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