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
Dick’s Sporting Goods has announced plans to destroy the modern sporting rifles, magazines and accessories they pulled from their shelves in recent weeks. That’s the word from a corporate spokesperson asked about pallets of inventory removed from displays nationwide. The sporting goods dealer’s mouthpiece said the firearms would be destroyed at regional distribution centers and the parts sent to a salvage yard for recycling.
Dick’s made the arbitrary policy change, deciding against selling America’s favorite rifle along with standard capacity magazines and other accessories amid a frenzy of post-Parkland corporate virtue signaling. The beleaguered company‘s CEO, Ed Stack, also decided the company would also arbitrarily discriminate against 18-20-year-old (now former) customers wishing to purchase firearms or ammunition.
In fact, he went further than that. He urged politicos to pass more gun control restrictions, too. Here’s an excerpt of his long-winded corporate suicide note as reprinted in USA Today.
Beginning today, DICK’S Sporting Goods is committed to the following:
We will no longer sell assault-style rifles, also referred to as modern sporting rifles. We had already removed them from all DICK’S stores after the Sandy Hook massacre, but we will now remove them from sale at all 35 Field & Stream stores.
We will no longer sell firearms to anyone under 21 years of age. We will no longer sell high capacity magazines. We never have and never will sell bump stocks that allow semi-automatic weapons to fire more rapidly.
At the same time, we implore our elected officials to enact common sense gun reform and pass the following regulations:
Ban assault-style firearms
Raise the minimum age to purchase firearms to 21
Ban high capacity magazines and bump stocks
Require universal background checks that include relevant mental health information and previous interactions with the law
Ensure a complete universal database of those banned from buying firearms
Close the private sale and gun show loophole that waives the necessity of background checks
We ran a story on the troubles Dick’s stores (and their Field & Stream outlets) are having had filling all that freshly-vacant shelf space.
Ed Stack clearly doesn’t like guns. Or gun owners. He seems bent on driving Dick’s into the dirt as he panders to America’s gun control industry.
Stack seems determined to keep up appearances in order to rub elbows with other gun control luminaries like George Soros, Michael Bloomberg and their ilk. Toward that end, Stack found some spare change in his couch and dropped $300,000 of his own cash on a Democrat “House Majority PAC” in 2016. George Soros dropped a cool million on the group the same year.
In other words, Ed Stack doesn’t need Dick’s in order to live well.
However, plenty of his employees rely on the financial viability of Dick’s to pay their bills. With leadership like Stack’s, Dick’s workers have cause to worry.
Dick’s sales are headed south. The stock price isn’t far above its five-year low and lost 5.52% on Friday the 13th alone. Those drawing a paycheck from Stack’s ailing company might want to find new employment quickly, before the SS Dick’s sinks below the waves to join Gander Mountain, MC Sports, Sports Authority.
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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