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Dick’s Sporting Goods Sales Sink After New Gun Policy
NATIONAL REVIEW ^ | March 22, 2018 8:24 AM | By MAIREAD MCARDLE

Posted on 03/23/2018 7:30:16 AM PDT by Behind Liberal Lines

Dick’s Sporting Goods has suffered a surprisingly steep downturn in sales since promising to sell fewer guns, but the problem isn’t the gun sales, Fortune says.

Stock tumbled to the lowest in four months after the sports store banned assault-style weapons from its Field & Stream stores and raised the minimum age for a customer to buy a firearm from 18 to 21....

“There’s going to be some pushback and we expected that,” said CEO Edward Stack, in an earnings call with Wall Street analysts, according to CNN. “There are going to be the people who don’t shop us anymore for anything.”

The decision is “not going to be positive from a traffic standpoint and a sales standpoint,” Stack predicted.

The company’s shares fell 7.3 percent after going up 13 percent this year. Sales failed to hit the projected $2.74 billion, tapering off at $2.66 billion for this quarter.

(Excerpt) Read more at nationalreview.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: 2ndamendment; banglist; dicks; nra; sales; secondamendment; sink; unexpected
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To: Made In The USA

Does the CEO of this multi-billion dollar company understand the purpose of a business?

Perhaps he’s better suited working for a not-for-profit.

Dicks just became a not-for-profit ...


41 posted on 03/23/2018 8:32:35 AM PDT by PIF (They came for me and mine ... now it is your turn ...)
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To: Reno89519

“The problem is the CEO likely has not money stake in the company. He gets paid as an employee. Very different when it is your money at stake.”

Au Contrare! This guy is Dick’s ( the guy who founded the business’) son. He is a “legacy CEO.” But if it is now not privately owned, he can be kicked out by the BOD! The question is, does this guy have controlling interest?


42 posted on 03/23/2018 8:33:10 AM PDT by vette6387
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To: Behind Liberal Lines

SOME PUSHBACK?

What is the threshold for him to realize that he is skidding down a slope they might not recover from? Maybe Cabela’s can buy out their stores at 10 cents on the dollar.


43 posted on 03/23/2018 8:35:57 AM PDT by ridesthemiles
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To: Reno89519

Edward Stack makes only $1 million salary of his $11+ million compensation. Most is stock and options, like most companies.


44 posted on 03/23/2018 8:37:57 AM PDT by jjotto ("Ya could look it up!")
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To: ClearCase_guy

” Okay. That’s the downside. And what, exactly, is the Upside?? “

Why the all important virtue signaling of course! Amazing that what we see as a major mistake, they see as more important than actually staying in business.


45 posted on 03/23/2018 8:41:03 AM PDT by Let's Roll ("You can avoid reality, but you cannot avoid the consequences of avoiding reality" -- Ayn Rand)
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To: Behind Liberal Lines

Dicks is a publicly traded company. I hope the stockholders realize how their management is making poor business decisions for political reasons, and makes their displeasure known at the next meeting.


46 posted on 03/23/2018 8:45:13 AM PDT by CharlesWayneCT
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To: ClearCase_guy

You know, that actually sounds like an actionably admission.

If I was a stockholder, and the CEO publicly said they they took action they KNEW would hurt their customer base, I’d want to sue them for not doing their job.


47 posted on 03/23/2018 8:46:46 AM PDT by CharlesWayneCT
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To: vette6387

Thanks! I didn’t look it up. So the idiot son is going to destroy his dad’s business?


48 posted on 03/23/2018 8:48:30 AM PDT by Reno89519 (Americans Are Dreamers, Too! No to Amnesty, Yes to Catch-and-Deport, and Yes to E-Verify.)
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To: CharlesWayneCT

Aside from the meaningless virtue signaling, I see no benefit to this. He just CHOSE to lose money for the stockholders.

It does seem like an abrogation of fiduciary responsibility.


49 posted on 03/23/2018 8:48:43 AM PDT by ClearCase_guy (Racism against Whites is a real thing. Let's stop pretending it isn't.)
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To: Behind Liberal Lines

Dick’s sales are limp...hope it falls off.


50 posted on 03/23/2018 8:49:53 AM PDT by WKUHilltopper (WKU 2016 Boca Raton Bowl Champions)
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To: Behind Liberal Lines

Looks like Dick’s need Viagra to raise things


51 posted on 03/23/2018 8:55:08 AM PDT by FatherofFive (Islam is EVIL and needs to be eradicated)
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To: utdutt
Academy Sports is building a huge store here in Columbus, GA, Matthews, NC, just down the road across the street from Dick's, with much better parking access. I believe Dick's will be going bye, bye real soon.
52 posted on 03/23/2018 8:56:38 AM PDT by Tax-chick (I have the easiest life in the history of the world.)
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To: vette6387
He does when he got to be CEO “the old fashioned way,” his father, Dick, gave it to him!

So his father was a Dick?

53 posted on 03/23/2018 9:01:11 AM PDT by Go Gordon
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To: Reno89519

“So the idiot son is going to destroy his dad’s business?”

It’s the “golden spoon” in action. The guy has always had money, and he probably doesn’t really make the connection between his politics and his duty to his stockholders. And probably his father, Dick, was a decent guy who worked his ass off to build a business that his son is now content to pi$$ away.


54 posted on 03/23/2018 9:03:34 AM PDT by vette6387
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To: Behind Liberal Lines
I mailed in my Dick's Card to Stack along with a note telling them where to shove all of their other crap.

From my card, they can check and see that I spent about $5-600 a year, so while not their biggest customer, I was a steady customer.

Some hunting gear but mostly golf equipment.

Well, it is apparent that they don't care about my couple of hundred bucks a year, so piss on them.

There are many sporting goods stores, so I won't miss them.

55 posted on 03/23/2018 9:07:13 AM PDT by USS Alaska (Kill all mooselimb, terrorist savages, with extreme prejudice! Deus Vult!)
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To: Go Gordon

“So his father was a Dick? “

No, his father WAS DICK! He IS A DICK!

I saw one of these mall marquees where they list the stores there, it said from top to bottom:

KOHL’S
STAPLES
DICK’S


56 posted on 03/23/2018 9:08:34 AM PDT by vette6387
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To: Behind Liberal Lines

What a ridiculous company with idiotic management. There is NOTHING unique about Dicks that you can’t get anywhere else. There was no reason to alienate half the country.


57 posted on 03/23/2018 9:10:04 AM PDT by jimmygrace
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To: Behind Liberal Lines

All for ripping DSG for their moral preeening in guns but this sales drop has nothing to do with it. Yet. 5is is just another example of the Retail Apocalypse. The gun issue will affect them but not in these numbers.


58 posted on 03/23/2018 9:11:51 AM PDT by Wyatt's Torch
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To: BipolarBob

Dick dicks UP!


59 posted on 03/23/2018 9:12:52 AM PDT by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
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To: circlecity
Over half their floor space is just overpriced clothing. I would hope that any outdoors person goes somewhere else for their fishing tackle, hunting products, ammo, camping goods, and other real sports items.

Most of my "outdoors" stuff I get from sportsmansguide.com, or cheaperthandirt.com. I've never bought anything from Dicks.

60 posted on 03/23/2018 9:22:03 AM PDT by PapaBear3625 (Big governent is attractive to those who think that THEY will be in control of it.)
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