CEO Ed Stack is okay with Dick’s Sporting Goods’ $150M loss from gun control stance

In America today, privately-owned businesses are no longer motivated by profit and service. Instead, businesses have become an arm of the Democrat Party by discriminating against conservatives and promoting the Left’s agenda — on abortion, anti-Trump political partisanship, illegal immigration, LGBT, and anti-Second Amendment gun-control.

A case in point is Dick’s Sporting Goods.

After the mass shooting last February 2018 at the Marjory Stoneman Douglas High School in Parkland, Florida, Dick’s was one of the first businesses in the U.S. to clamber on board the ensuing “March for Our Lives” gun-control movement by declaring they would stop selling assault rifles and high-capacity magazines, barr the legal sale of guns to those under age 21, and hire their own gun-control lobbyists to push for stricter gun laws nationwide.

At the time, Dick’s paradoxically predicted that although the move could hurt sales, it would also draw more shoppers to its stores.

In August 2018, Dick’s admitted that sales at stores open for at least 12 months  tumbled by a bigger-than-expected 4% during the second quarter. But billionaire Chairman and CEO Edward W. Stack, 65, put on a brave face, insisting he was confident sales would turn around. (See “Pro-gun control Dick’s Sporting Goods sales down 4%; will close 35 stores”)

Dick’s drop in sales has continued, such that the company may soon close down their entire Field & Stream chain of 35 stores across 18 states. CEO Stack admitted the company’s gun control stance was hurting business but offered no indication he would reverse course.

On March 29, 2019, Bloomberg reports that since its gun-control policy, Dick’s lost “about $150 million” — an amount equivalent to 1.7% of annual revenue. Yet Stack claims the $150 million loss was worth it. He virtue-signaled:

“The system does not work. It’s important that when you know there’s something that’s not working, and it’s to the detriment of the public, you have to stand up.”

What happened at Dick’s confirms a new Stanford University study that fond that although respondents said they were more likely to buy a product to support a CEO’s political stance than they were to boycott in disagreement, their actions revealed the opposite. When asked for specific examples, 69% could name a product they’re boycotting, but only 21% could recall a product they started buying to support a political stance.

Strangely, despite Dick’s loss of $150 million from its gun control stance, the company’s stock price hasn’t suffered. Dick’s shares, which didn’t move much following the gun-control announcement last February, actually climbed 14% in the 13 months since, outpacing the 4% rise in the benchmark Russell 3000 Index.

Stack owned about 25% of Dick’s common stock, and controlled nearly two-thirds of its voting shares, as of 2010. After selling 5.8% of his holdings in 2013, he owned around 20% of the company, primarily via Class B shares. (Wikipedia)

Stack’s not finished, though. He is one of just four CEOs to sign a letter supporting a universal gun control bill, and he recently joined the business council of Everytown for Gun Safety, a non-profit for gun control founded by billionaire former New York Michael Bloomberg.

H/t Big Lug

~Eowyn

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hanalor pidocottlem walkerThaidudeDr. EowynDave Hunter Recent comment authors
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Lana
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Lana

I love how these CEOs like this Ed Stack pretend to virtue signal on these matters as if they really believed the crap they are spewing. Long story short, they are part of the Elite Satanic club that rules this planet and they have their agenda of turning everyone into defenseless serfs. But if he and his likes admitted that, it might not go over too well. WHO DO they think they are kidding? Only the gun fearing libtards who buy yoga pants at Dicks.

Pilot Dave
Guest
Pilot Dave

Never purchased guns/ammo/ etc from Dick’s, but I WAS in their rewards club until this insult to our 2nd amendment… you all can cost them more by “opt-out” of their privacy policy – simple letter to them:
You can write them a simple one pager saying:

“I no longer agree to your Privacy Policy, remove all of my personal information from all of your databases and those of your business partners.”

Mail it to: (This will cost them the most amount of money in labor)

Dick’s
ATTN: Customer Service.
345 Court Street
Coraopolis, PA 15108

Kevin Lankford
Member
Kevin Lankford

Have to wonder if this nut is not completely aware these mass shootings are “psy-ops” being perpetrated against the true U.S. citizens by our own government.

jimmy
Guest

it’s always a calm person in fatigues……stoneman eye witnesses say it was professional swat types, not nick .
same here
calm , person in fatigues, and a second person

DCG
Admin

“The system does not work.”

Got that right. All one has to do is look at the number of shootings in Chiraq and Baltimore. Oh, and the mass shooting yesterday in a gun-free zone in strict gun-controlled California. Turns out he was not of legal age to purchase his firearm in CA…he bought it in NV and illegally brought it to CA.

No amount of laws will stop someone who is determined to commit a crime.

Alma
Member
Alma

Like I believe him. Nobody likes to lose money specially a CEO, He’s just saying that, he knows closing stores is a decline in popularity and revenue, and usually these companies end up in the red closing their doors for good and for something that should be left to the voters, besides gun control is not going to stop the killings, it is the criminal element they have to stop.

Watertender
Member
Watertender

I went into a Dick’s store last week just to take a look. Including me who did not buy a damn thing there were 2 other customers in the place. How is that gun control stance working for you oh wise one???

Dave Hunter
Guest
Dave Hunter

I’m waiting for Dicks to go under so I can buy a new set of golf clubs at the closeout sale.

genetics73
Guest
genetics73

He “stands up” for his employees to lose their jobs; for criminals having access to guns; for depriving families of livelihood. Will he use his billions to compensate the workers for income lost? Or will he tell them, “learn to code?”

jimmy
Guest

it’s because they are in the “club”….the secret societies.
they know or believe man must be disarmed so he doesn’t rebel against the upcoming trans-humanism, the elites don’t want the serfs getting wise and fighting back before they implement their machinations .

jimmy
Guest

millions of Americans are cheering his bankruptcy,
the writing in on the wall,
but like Belshazzar , he is foolishly ignoring his reality

YouKnowWho
Guest
YouKnowWho

hey Dicks. meet Target and JC Penney. None of these get any of my bux.

Thaidude
Guest
Thaidude

I bought a pop-up tent from a Dick’s store. After I learned about their corporate position on guns, I returned it. Just doin’ my small part.

m walker
Guest
m walker

what is fascism? – Tomato Bubble
http://www.tomatobubble.com/id567.html
Political radicals often shout, “Fascist!”, “Fascist!” at anyone who doesn’t agree with their views. The term is especially popular among college students.

hanalor pidocottle
Guest
hanalor pidocottle

I entered a field and stream store in eugene oregon not realizing it was a part of dicks until i noticed that it was open to the dicks store. I turned around and started to walk out when an employee asked if he could help. I asked him if this store was a part of dicks and he said ya. I then informed him that I wouldn’t support a business that was hostile to the constitution. He grinned and said “I feel you man” I don’t shop here either for the same reason. I gave him a nod and left.… Read more »

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[…] in loss of sales and market shares. Examples include JC Penney, Dick’s Sporting Goods (CEO Ed Stack nevertheless says he’s okay with Dick’s $150M loss from the company’s gun control policy), and now Proctor & Gamble, the Ohio-based […]