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

John Quayle blueoval57 at verizon.net
Tue Dec 11 21:41:09 MST 2018


/*Mighty!*/

On 12/11/2018 8:49 AM, Dennis Putnam wrote:
> 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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