Warehouse inventory instead of selling it until it has to be destroyed...
Posted on 04/15/2018 12:41:35 PM PDT by Simon Green
I wonder if that would be considered tax fraud, since the claimed "loss" would be 100% voluntary, intentional and purposeful.
I have always thought Ed Stack was an idiot and a con man. I also believe they might cook their books. I never see anyone actually buy anything in a Dick’s but their sales keep going up. They don’t get my money and never will, but I may short the stock.
That Dicks stock is going to revenue dysfunction real quick.
Which means that the price of these guns and the cost of destroying them is going to be built into the price of everything you buy from Dick's.
No thanks.
Ditto
You know, many years ago in another life I was a receiving clerk. My manager told me to get rid of a several kegs of wing nuts and other fasteners that the company would never use. He said to keep it to myself because liquidation of assets was not legal. How is this legal and could’t the corporation be sued by the shareholders and win?
Nice business model.
And their stores are pretty impressive and elaborate. Rock climbing walls, escalators, etc. Guess that’s why their prices sucked and now they throw themselves in front of this train. Oh well.
And I’m quite sure that the owners and leadership of Academy Sports have been popping bottles and loving Dicks’ decision, since they made it.
In related news, Ford and General Motors have decided to stop selling SUVs and sell the remaining inventory for scrap metal.
In a joint press conference, the automakers said “this is to ensure we no longer sell these killing machines and should greatly increase the value of our stockholders.”
Toyota and Nissan were unavailable for comment as they were busy eating Ford and GM’s lunch, dinner and breakfast.
Rumor has it Dick’s is replacing the shelf space with ball and cap pistols, muzzleloaders, and blunderbusses ... going completely PC soon removing all shape knives and selling only butter knives...
Warehouse inventory instead of selling it until it has to be destroyed...
This is stupid on steroids.
AR15 rifles are flying off the shelves.
The only people this helps are the gun manufacturers.
How long will it take the gun manufacturers to replace Dick’s destroyed inventory? A couple of days.
I found a thread from a few weeks ago on this very subject at Democratic Underground. Universal praise for Dick’s, of course....but also post after post predicting higher stock prices and increased sales, :-)
The last time I was in a Cabellas it was in CT where they were selling 10-22 stocks with folding shoulder furniture.
These stores don’t care about any legality or anything. They just want their money from the poor saps who are tricked into shopping there.
The internet has cured this problem.
I hope all their crappy stores burn to the ground with their corporate “leadership” trapped inside.
‘eff them.
sharp
I should also say right around that time the company was bought out by a division of ALCO Standard. So, I suspect I was actually illegally liquidating assets to make a leaner buyout.
The Dick’s owners are tired of being in business and want to retire?
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