Dick's Ceo Says Anti-Gun Policy Created ‘Quarter-Billion Dollar’ Loss

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lakelandman
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Dick's Ceo Says Anti-Gun Policy Created ‘Quarter-Billion Dollar’ Loss

Post by lakelandman »

The massive retailer continues to feel blowback after taking a controversial political stance in February 2018.
Following the horrific, infamous day at Stoneman Douglas High School on Feb. 14, 2018, in Parkland, Florida, many Americans found themselves desperately reaching for answers.

The growing trend of shooting violence prompted a wave of Americans to call for stricter gun-control policies, primarily referring to AR-15s and other modern sporting rifles. A number of nationally recognized brands publicly condemned the National Rifle Association, as well as gun-rights activists for their inaction following the deadliest high school shooting in United States history.

One of those brands was Dick's Sporting Goods, a national retailer with a substantial presence in the both the hunting and shooting markets, which has now lost about $250 million after taking a stance less than two years ago.

CEO Ed Stack decided not only to stop selling certain guns and to hire lobbyists to push for stricter gun-control policies, but he also chose to stop selling firearms to customers under the age of 21 and had the company destroy $5 million of rifle inventory.

"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 an interview.


Dick's isn't the only company to take a hit for moving off guns, as other notable brands, such as YETI, also felt the backlash of bringing gun rights into question.

While Stack expected the move to result in customers boycotting the company, he still remains unapologetic and confident in his decision.

"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," he wrote in the company's 2018 annual report. "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."

After choosing to end all gun sales at 125 of its stores, Stack is considering removing the company from the firearms industry altogether.

While Stack claims he expected this type of fallout last year, it's safe to say armed Americans' collective effort to boycott Dick's is working.
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AirForceShooter
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Post by AirForceShooter »

And he still has his job?????

I can't figure that one out

AFS

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Bmup
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Post by Bmup »

Nobody I know goes to Dick's for anything. Not sneakers, not footballs or basketballs or workout gear. Nothing. I'm thinking the $250 M figure is calculated using "creative accounting" & the actual loss is on a much grander scale. Glad I don't own stock in Dick's, I'd be really pissed off.

So as the CEO, does that make Stack the Head Dick or a Dickhead? :lol:
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GunsandHoses
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Post by GunsandHoses »

Used to go there a couple times a month. Now that they started their BS, haven't been there in months and not going back! SCROOM! Their days are numbered!

Joecruiser
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Post by Joecruiser »

It's crazy to think that the stock holders are OK with losing their investment.
They'll go belly up soon...like Sports Authority did.

I only go to Dicks to try on stuff....then I order online.
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Post by photohause »

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Post by Skoll »

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Greg
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Post by Greg »

Joecruiser wrote:
Sun Nov 03, 2019 9:20 am
It's crazy to think that the stock holders are OK with losing their investment.
They'll go belly up soon...like Sports Authority did.

I only go to Dicks to try on stuff....then I order online.
Lol ok now I don’t feel so bad. I go to Dicks to try on a bunch of stuff and I always leave it out on purpose for em
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BIG JOE
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Post by BIG JOE »

5 million to 250 million? Now Mr. Stack is considering doing the same thing in all the stores. I'm all for that. Go ahead and destroy the rest of your firearm stock. If the CEO & the CFO sign off on this that should take care of Dick's for good. If you don't want to sell a product that's fine return it. but no let's take a huge loss for the corporation instead. What a bunch of morons.
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TACC
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Post by TACC »

AirForceShooter wrote:And he still has his job?????

I can't figure that one out

AFS
Because his customer base is liberal soccer moms, they love it.

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