[Rushtalk] Appeaser Dick’s CEO: Decline in Gun Sales May Force Closure of Field and Stream Stores

John Quayle blueoval57 at verizon.net
Mon Dec 10 18:48:12 MST 2018


/*Hard to believe that Dick's began in nearby Sewickley, PA. Dennis and 
JD know where I'm talking about.....not far from Robert Morris College 
(now university), my alma mater...........................
*/

On 12/10/2018 3:31 PM, Carl Spitzer {C Juno} wrote:
> Seems making bargains with fascists and loosing money is OK.
> If I were a stock broker I would be dumping them big time.
>
>
>   *Dick’s CEO: Decline in Gun Sales May Force Closure of Field and
>   Stream Stores *
>
> *By Jack Crowe <https://www.nationalreview.com/author/jack-crowe/>*
> *December 6, 2018 5:39 PM *
> *Dick’s Sporting Goods in Stroudsburg, Pa. **/(Eduardo Munoz/Reuters)/***
>
> *The CEO of Dick’s Sporting Goods told investors in September that 
> gun-purchasing restrictions the company imposed earlier this year have 
> negatively affected its sales to a point where it may be forced to 
> close its Field & Stream outlets.*
>
> *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.”*
>
> *In addition to the firearm-purchasing restrictions, Dick’s also hired 
> a number of Washington, D.C. lobbyists in May to advocate for 
> more-stringent gun-control regulations. Taken together, the 
> restrictions and the lobbying effort led the National Shooting Sports 
> Foundation to expel Dick’s and caused a number of major gun 
> manufacturers to sever ties with the retailer — developments that 
> Stack admitted were detrimental to its third-quarter performance.*
>
> *“So, we’ve had some vendors who’ve decided based on our decision to 
> not sell the assault-style rifle that was used in the Parkland 
> shooting that they wouldn’t sell us any longer,” Stack said. “So, as 
> you know, there’s been some people who said we’re not going to sell 
> you any firearms anymore. We’re not going to sell you our product. 
> We’ve had some other people who’ve indicated that they wouldn’t shop 
> with us any longer.”*
>
> *Comments 
> <https://www.nationalreview.com/news/dicks-sporting-goods-gun-purchase-restrictions-hurt-sales/?fbclid=IwAR1urEbk5ucudxlYSKmM5OxvILRRockBraRoHHZrq_hn3vOxS-lYbMd4a-A#><https://www.nationalreview.com/news/dicks-sporting-goods-gun-purchase-restrictions-hurt-sales/?fbclid=IwAR1urEbk5ucudxlYSKmM5OxvILRRockBraRoHHZrq_hn3vOxS-lYbMd4a-A#>* 
> *While Stack’s comments regarding the decline in sales echoed remarks 
> made last week 
> <https://www.nationalreview.com/news/dicks-sporting-goods-sales-continue-to-decline-after-new-gun-rules/> 
> by the company’s CFO, his admission that Dick’s may be forced to 
> shutter 35 Field and Stream outlets nationwide marked a new 
> development in the story.*
>
> *“My sense is that we can either take a look at closing that store, 
> that concept, or re-conceptualizing it into a more of an outdoor-type 
> concept. And we’re taking a look at all of these things and by the end 
> of . . . the third and the beginning of the fourth quarter and as we 
> move into the end of the fourth quarter, we’ll make a decision as to 
> what we’re going to do,” Stack said.*
>
>
>
>
> https://www.nationalreview.com/news/dicks-sporting-goods-gun-purchase-restrictions-hurt-sales/?fbclid=IwAR1urEbk5ucudxlYSKmM5OxvILRRockBraRoHHZrq_hn3vOxS-lYbMd4a-A
>
>
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