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Dick's Sporting Goods CEO says company
destroyed $5 million in guns

Original Article

Posted By: Ribicon, 10/7/2019 5:38:44 PM

Ed Stack, the chairman and CEO of Dick’s Sporting Goods, said in a new interview that his company destroyed $5 million worth of semi-automatic rifles after removing them from store shelves last year. Dick’s stopped selling AR-15s after the Sandy Hook Elementary School shooting in 2012 but took it a step further after the 2018 Parkland high school shooting, raising the gun purchase age to 21 and banning the sale of high-capacity magazines and assault-style rifles. It was a highly controversial move that Mr. Stack said cost the company “pretty close” to $250 million.

Comments:

The guy destroyed shareholder value and smeared all legitimate gun owners as being potential serial killers, yet he remains CEO, and reminds people to continue staying away from his stores. Meanwhile, none of the big drugstore chains have stopped selling the dangerous psychiatric medications that help fuel mass killings when the unstable future killers suddenly stop taking them.

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Reply 1 - Posted by: Hairy Eyeball 10/7/2019 5:43:15 PM (No. 200467)
I will never spend another penny there.
24 people like this.

Reply 2 - Posted by: MattMusson 10/7/2019 5:47:52 PM (No. 200474)
Is it legal for a publicly traded company to deliberately destroy shareholder's equity?
20 people like this.

Reply 3 - Posted by: DVC 10/7/2019 5:53:05 PM (No. 200482)
They have driven me away, permanently. I will NEVER go into a Dick's Sporting Goods again, for ANYTHING. I often bought shoes and some ammo from them when they had a good sale. Never again.
22 people like this.

Reply 4 - Posted by: GreatGreyhounds 10/7/2019 5:53:29 PM (No. 200483)
And I haven’t spent a penny there since they announced this.
20 people like this.

Reply 5 - Posted by: Turninggrey 10/7/2019 5:55:32 PM (No. 200488)
Hell, the only reason I would go into that overpriced disorganized store was to look at guns. It is really a waste of time.
8 people like this.

Reply 6 - Posted by: raspberry 10/7/2019 5:57:53 PM (No. 200493)
It is the closest sporting goods store to me and I will never go there again. I would love to know what stockholders think of an arbitary political move that cost $250,000--so far.
8 people like this.

Reply 7 - Posted by: ROLFNader 10/7/2019 6:01:17 PM (No. 200501)
There's a reason why they're called "Dicks".
34 people like this.

Reply 8 - Posted by: lakerman1 10/7/2019 6:05:35 PM (No. 200509)
Idiotic move.
6 people like this.

Reply 9 - Posted by: linkay6 10/7/2019 6:15:31 PM (No. 200523)
Total stupidity - I'm not impressed.
6 people like this.

Reply 10 - Posted by: JediJerry 10/7/2019 6:16:23 PM (No. 200524)
Yes, and they destroyed well over that amount in losses of customer sales and customer loyalty. Good job Ed.
8 people like this.

Reply 11 - Posted by: red1066 10/7/2019 6:19:50 PM (No. 200531)
The local gun shops thank you.
20 people like this.

Reply 12 - Posted by: JL80863 10/7/2019 6:21:24 PM (No. 200534)
OK, but what about all those plastic straws? s/o
15 people like this.

Reply 13 - Posted by: happywarrior 10/7/2019 6:37:03 PM (No. 200551)
They're overpriced and I rarely see any staff because they all hide. When we did get help the girl was rude and the guy in the sneaker department disappeared when he saw my son and I coming. Haven't been back there since.
7 people like this.

Reply 14 - Posted by: udanja99 10/7/2019 6:44:49 PM (No. 200560)
Never been there, never will.
7 people like this.

Reply 15 - Posted by: enemyofthestate 10/7/2019 6:46:25 PM (No. 200565)
And Dick's has destroyed any business I might have given them.
8 people like this.

Reply 16 - Posted by: Goose 10/7/2019 6:52:20 PM (No. 200571)
An nobody has been shot since they did that noble act.
6 people like this.

Reply 17 - Posted by: Jethro bo 10/7/2019 6:53:19 PM (No. 200574)
Imagine the tingle going up the stockholders legs after hearing this. Unfortunately, he will not face a stockholders revolt over this but its one way to challange leftist in charge of publicly trading companies and on rare occasion it works.
4 people like this.

Reply 18 - Posted by: Safari Man 10/7/2019 7:05:22 PM (No. 200589)
Hence the name.
7 people like this.

Reply 19 - Posted by: WhamDBambam 10/7/2019 7:14:59 PM (No. 200600)
Free advice, don't be Dick's.
9 people like this.

Reply 20 - Posted by: Rumblehog 10/7/2019 7:21:33 PM (No. 200604)
Layoffs begin in 10, 9 , 8, .... I bet this $5mil won't come out of the Executive Bonus Program.
11 people like this.

Reply 21 - Posted by: LadyChurchillUSA 10/7/2019 7:32:13 PM (No. 200612)
Quite the business model. Destroy valuable stock and alienate potential customers at the same time. Gee why didn't someone think of this sooner. I hope you don't think the high rise nitwits who eek at the sight of a mouse are going to be your new customers. I think the shareholders have a case for deliberate destruction of their company. I would be looking to file a class action suit against the idiot and make him pay for the destruction out of his own millions.
7 people like this.

Reply 22 - Posted by: MDConservative 10/7/2019 7:56:08 PM (No. 200633)
It's the company's merchandise. If the stockholders have a gripe, they can revolt with their shares. Frankly, what do you care? Especially those who have never shopped there. You've already taken your business elsewhere.
4 people like this.

Reply 23 - Posted by: KTWO 10/7/2019 8:12:46 PM (No. 200640)
As a PC gesture Dicks's should resume buying the guns and then destroying them. What a wonderful gift to the World that would be.
7 people like this.

Reply 24 - Posted by: ColonialAmerican1623 10/7/2019 11:15:22 PM (No. 200695)
Why not change the store name to Stupid R Us ?
3 people like this.

Reply 25 - Posted by: anniebc 10/8/2019 1:00:54 AM (No. 200751)
Unqualified CEO. Needs to be fired for incompetence and stupidity. I think our local Dick's would make a great Hobby Lobby.
2 people like this.

Reply 26 - Posted by: IAmButASimpleCaveman 10/8/2019 5:24:13 AM (No. 200805)
not quite believing $5M worth of corporate assets has actually been destroyed - if it actually happened then why not make a video and broadcast it. agree with #2 if it did happen - criminal fiscal impropriety against stockholder intersts
1 person likes this.

Reply 27 - Posted by: tom7 10/8/2019 6:00:13 AM (No. 200814)
So this guy discarded $5Million of shareholder assets so that he could preen self-righteously ? I don't think political preferences fits within the definition of 'fiduciary responsibility'.
1 person likes this.

Reply 28 - Posted by: garyhope 10/8/2019 3:23:21 PM (No. 201438)
Mr. Ed is a dumb Dick.
0 people like this.

Reply 29 - Posted by: Smart11344 10/8/2019 3:26:19 PM (No. 201441)
I wonder if the Lone Ranger sent him a silver bullet? Tonto said "UGH".
0 people like this.

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