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Posted on 12/11/2018 2:19:50 PM PST by Beave Meister
I’ve written more about Dick’s Sporting Goods in 2018 than I ever thought I would. When the year started, we thought the company would have gotten the message that taking anti-gun stances wasn’t conducive to profits, but it didn’t.
So Dick’s doubled down after Parkland and purged the rest of the AR-15s from its stores and then instituted a discriminatory policy against legal adults.
And it’s biting it right in the kiester, too.
In remarks made to the Goldman Sachs Retailing Conference and first reported by the Washington Free Beacon, CEO Edward Stack explained that the 3.9 percent decline in the company’s sales during the third quarter could be partially attributed to its ban on the sale of assault-style rifles and on the sale of all firearms to customers under 21 years old — both of which were implemented in the wake of the Parkland shooting in February.
“Well I think it’s definitely a factor, and it’s nothing that we didn’t anticipate,” Stack said of the sales downturn during the call. “As we put out kind of our guidance for the year and our earnings guidance for the year, we knew this would happen when — we’ve made some decisions on firearms in the past and we’ve had a pretty good idea of what these consequences were going to be. We felt that was absolutely the right thing to do. We would do the same thing again if we had a mulligan, so to speak, to do it again.”
(Excerpt) Read more at bearingarms.com ...
Recently they opened a humongous store near me. I’ll never step foot inside it. I imagine that store was already in the building stages before or during when Dick’s went anti-gun. Otherwise I dont think they would have went through erecting another store.
Losers all...Hahahahaha.
The President, Lauren Hobart, gave $250 to a Republican over a decade ago...
Poor decisions lead to poor consequences.
“Bass Pro, Cabellas or Academy Sports.”
Not one of those chains here in town but Dick’s just started construction on new store, salvaging the walls of an old movie theater. Not sure how they’ll do.
So they expected problems with their gun issues, nad expected to contract the business and see stores close? They actually planned it this way????
I was in a Home Depot last week and noticed nail guns. They fire 22 caliber ammo to drive a nail. The device is about 18 inches long, That makes it too long for a hand gun and too short as a rifle. It is on open shelving with boxes of ammo. There is no magazine so it is a single shot. Apparently there are no restrictions on purchasing or openly carrying these items. Now a 22 round may not have much power, but it can really ruin a persons day. That makes the device a real GUN. Bye, bye DICK’s.
But what do those stockholders say about this CEO and his management, who say they deliberately made an anti-gun decision, knowing it would tank the stock? That hits the stockholders right in their pocketbook.
This guy conflates doing the politically correct thing with making decisions that improve the bottom line. What investor invests their money to "feel" good about their investment? Investors want a financial return on their risk, not a moral one.
I'd like to see how this plays out and whether the Dick's stockholders get rid of this CEO for making a bad management decision based on an anti-gun political agenda. It is a sporting goods store, after all.
Why can’t shareholders sue for mismanagement or fraud? They made decisions that were against shareholders best interests.
That’s what they get for being ... Dick’s.
I saw Apollo on at least one. That’s Doris.
I saw Apollo on at least one. That’s soros.
What kind of jacked up spell-check turns Soros into Doris?
I’ve never heard of “Apollo” in this context ...
But Hah! The interwebz is my friend! I see the “Apollo Alliance” is an unholy cabal of eco-freaks and organized labor socialists. Nasty.
“What else is there to say?”
new name for Dick’s is “Dickless”?
They should start selling ghey wedding cakes and pusi hats to take up the slack.
So did I boycott those Dicks. Except I did bring my boys there to get our hunting licenses. They do it as a service and receive no funds for this, so it is a loss to them. Appropriately they had a HUGE display of Yeti coolers by the register. Doubling down I’d say.
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So.......you deliberately chose to take a political stance you knew was going to hurt the company? Did you run this by shareholders? I’m guessing they’re not exactly thrilled with losing money for the sake of virtue signaling.
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