DICK'S SPORTING GOODS LOSES $150M AFTER TIGHTENING GUN SALES

flyingtigerusa

Six Pointer
DICK'S SPORTING GOODS LOSES $150M AFTER TIGHTENING GUN SALES
The CEO is standing by his decision, saying he had to 'stand up.'

Author: Tim Chong
Published: 04/01/19
Dick's Sporting Goods said it has paid a price for its decision to restrict firearm sales after the Parkland school shooting.

Bloomberg reports CEO Ed Stack said the change cost the company $150 million.

Nikolas Cruz, who is accused of killing 17 people at Marjory Stoneman Douglas High School in 2018, once legally bought a shotgun at Dick's. It wasn't the one used in the massacre. But, in response to the revelation, the chain pulled assault-style rifles and high-capacity magazines from its shelves, and it halted sales to anyone under 21.


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UpATree

Six Pointer
Contributor
Article fails to mention that they also hired a gun control lobbyist to pass laws that impose those same restrictions on all their competitors (and all of us). I took a buddy shooting the other day, told him to bring a box of ammo. When he got there he said he got it at Dick's. I told him we'll shoot my ammo, I don't want Dick's ammo in my guns.
 

chef

Eight Pointer
Article fails to mention that they also hired a gun control lobbyist to pass laws that impose those same restrictions on all their competitors (and all of us). I took a buddy shooting the other day, told him to bring a box of ammo. When he got there he said he got it at Dick's. I told him we'll shoot my ammo, I don't want Dick's ammo in my guns.
STD concerns
 

Firedog

Old Mossy Horns
Contributor
DICK'S SPORTING GOODS LOSES $150M AFTER TIGHTENING GUN SALES
The CEO is standing by his decision, saying he had to 'stand up.'

Author: Tim Chong
Published: 04/01/19
Dick's Sporting Goods said it has paid a price for its decision to restrict firearm sales after the Parkland school shooting.

Bloomberg reports CEO Ed Stack said the change cost the company $150 million.

Nikolas Cruz, who is accused of killing 17 people at Marjory Stoneman Douglas High School in 2018, once legally bought a shotgun at Dick's. It wasn't the one used in the massacre. But, in response to the revelation, the chain pulled assault-style rifles and high-capacity magazines from its shelves, and it halted sales to anyone under 21.


Sent from my iPad using Tapatalk
Did they LOSE 150M ie.. net loss on the books or did the simply bring in $150M less in revenue.. honestly asking I have not looked it up.. the quote says it cost the company 150M that is different from a loss of 150M..
 

UpATree

Six Pointer
Contributor
Did they LOSE 150M ie.. net loss on the books or did the simply bring in $150M less in revenue.. honestly asking I have not looked it up.. the quote says it cost the company 150M that is different from a loss of 150M..
It's a loss of revenue, not $150 million in profit. The company is still profitable, earning $3.34 per share this year, just less profitable than it would be had they not gone "socially responsible". Their stock is up about 15% in the past year, from 33.33 to about 38.40.
 

pattersonj11

Old Mossy Horns
It's a loss of revenue, not $150 million in profit. The company is still profitable, earning $3.34 per share this year, just less profitable than it would be had they not gone "socially responsible". Their stock is up about 15% in the past year, from 33.33 to about 38.40.

In other words....doing great without guns. I don’t like it, but that’s the fact.
 

Firedog

Old Mossy Horns
Contributor
It's a loss of revenue, not $150 million in profit. The company is still profitable, earning $3.34 per share this year, just less profitable than it would be had they not gone "socially responsible". Their stock is up about 15% in the past year, from 33.33 to about 38.40.
Thanks for the info, I suspected that might be the case. Just for those that might not know.. according to uncle Google DSG has about 100 Million shares of stock outstanding so the took a $150M revenue hit but made $330M in profit and added over a half a billion to their valuation with the rise in stock price.

What I see in those numbers is that guns were a relatively small part of their overall business to begin with, and the changes they made (even if I disagree with them) did not have a devastating affect on the bottom line, at least not in the short term.
 

Greg

Old Mossy Horns
In other words....doing great without guns. I don’t like it, but that’s the fact.
Yep .. I don't like it, either … but whatever works for them is their right. I reckon there are PLENTY of 'antis' who applaud and support what they're doing.
 

Ridgeline66

Eight Pointer
Contributor
I haven't been in one in i don't know how long now and not for guns/ammo or hunting but also for shoes/clothes or anything else that i can get elsewhere at a cheaper price, they don't want me shopping there.
 

Southern

Eight Pointer
They have apparently replaced all hunting inventory with other categories in test markets and the profit margin per square foot is higher on that non hunting inventory. In a year there will be no hunting department in Dicks.
 

pattersonj11

Old Mossy Horns
I know the common thought is Dicks is the boogeyman and I agree as with other stores.

I personally will think no less of someone that shops there. I haven’t shopped there in years, but I wonder just how many stores have similar political views?
 

ECU_Pirate

Eight Pointer
I'm pretty sure the majority of people who shop there don't even know anything about their stance on guns and they have even removed any. I still shop at dicks because it's close by to other stores I have to go to and they have decent sales sometimes. If I want a gun I'll go somewhere else. Still eat at Chick-fil-A too. I don't buy stuff based on your political or religious beliefs. I buy based on the product and price.
 

Eric Revo

Old Mossy Horns
Contributor
I'm pretty sure the majority of people who shop there don't even know anything about their stance on guns and they have even removed any. I still shop at dicks because it's close by to other stores I have to go to and they have decent sales sometimes. If I want a gun I'll go somewhere else. Still eat at Chick-fil-A too. I don't buy stuff based on your political or religious beliefs. I buy based on the product and price.
Way to stand on your principles...you capitalist you :)
 

DrAsus

Spike
I wouldn't piss on that company if it was on fire and by holding it I might get a bladder infection!!

Screw them. Haven't stepped foot in one since and don't plan to. They lost ALL of the money I would have spent there.

DrAsus
 

Bud

Four Pointer
Contributor
I may be a little late to the party here but anyway, I was in Danville Virginia Saturday 5-4-19 shopping with my daughters we went to the shopping center were Dick's was to see that store closed made me happy in one way and sad in another all those people lost their jobs because of the stupidity of the CEO it is one thing to be against the 2nd amendment personally but to incorporate that into your business just boggles my mind
 

Mechanic Bob

Eight Pointer
Dick's rebounding?
Announced here in Wilmington that Dick's is replacing the Sears store at the Independence Mall. Here in Wilmington, the stores have a good customer flow.
I have not shopped there since the CEO made his Anti-Gun statement.
 

Ridgeline66

Eight Pointer
Contributor
I went in last Sat to "look" at golf clubs.....that I will buy elsewhere, I ain't buying anything from them on principle and price, always find it cheaper somewhere else.
 
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