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

Dennis Putnam dap1 at bellsouth.net
Tue Dec 11 06:49:28 MST 2018


This was not unexpected. How stupid is it to alienate your own customers?

On 12/10/2018 8:48 PM, John Quayle wrote:
>
>                       /*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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