Dick's Sporting Goods told investors during the Goldman Sachs Retailing Conference that its gun-control stance hurt sales of its hunting business, outdoors business, and that it may close its outdoor-focused Field & Stream stores.
Edward Stack, chairman and CEO of Dick's, said during the event that the sporting goods chain's recent 3.9 percent drop in same-store sales was the result of a mix of factors beyond their control as well as some he called "self-imposed." Specifically, he said, "the decisions we made on firearms" negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation.
"Well I think it's definitely a factor, and it's nothing that we didn't anticipate," Stack said 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."
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19 comments:
hopefully their libtarded agenda will be the death of them...i have not set foot in one since.
I agree with 6:21 am.
I glad to see we the people are having a negative impact on your profit.
I gust buying there. Hope they go bust....
Used to buy a bunch of golf stuff there for son-in-law and daughter. All is available elsewhere and that's where it comes from now. Rest of family doing the same.
If you do not support responsible gun owners why would they expect us to support them LOL tooooooo funny. Liberals moto ME ME ME not whoever supports them if so Dicks should have been just fine with there decision.
I agree
Selling gas at my convenience store represents only 3.5% of my profits, so I'm going to stop selling gas and act shocked when my profits go down by 3.5% or more.
Poor, poor pitiful me....
The board of directors certainly needs to consider replacing this CEO. The main purpose of any company is to make profit for the shareholders, not engage in social issues. I can't figure out why he still has a job.
No saner stockholder would keep stock from a company that intentionally makes policy decisions that hurt the bottom line. They won't be around much longer.
I go there to try on clothing then buy them on amazon
Dicks sucks , that doesn't sound very good , it shouldn't.
Sounds like the CEO is doubling down and determined to run Dicks in the ground.
Good Riddance IDIOTS! They deserve financial ruin!
Any CEO that caves to the liberal nonsense should be fired immediately. Guns are legal and Dicks is suppose to be a sporting goods store. DUH! They don't want to sell guns so they should change their name to Dicks sporting goods for pansies.
we stopped shopping there. LIBERALS GOT to THEM!! They will close soon!!
They don't support or sell the products their customers use, over social concerns and politics? WTF? They deserve to go out of business, or they should fire the incompetents that make decisions that harm the stockholders, and their investments. Answering to the anti-gun protesters, by complying with their demands to not sell a legal product, used in legal hunting activities, to their customers, is just an asinine and bad way to run a company. Dick's will be a case study for future Business Administration college students, on how NOT to run a company.
BYE!!Next time know your customer.
Anonymous said...
The board of directors certainly needs to consider replacing this CEO. The main purpose of any company is to make profit for the shareholders, not engage in social issues. I can't figure out why he still has a job.
December 9, 2018 at 9:29 AM
Excellent point.
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