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Dick's Sporting Goods Loses $250 Million For Dropping Guns

01/13/2022

Earlier, in The Time Before, Dick's Sporting Goods sold weapons. Lots of weapons. And then the son of the founder decided to wake up and stop selling weapons outside some retail chains. After being celebrated as a far-sighted and thoughtful responsible salesman, the company now admits that shooting and shooting at crooked weapons cost it (and shareholders) $ 250 million in revenue.

That's probably humiliation. When the pandemic broke out, arms stores saw queues of people waiting to buy weapons, ammunition and accessories. On the other hand, at Dick's No-Guns, the company fired employees as fast as their printers were able to make pink chutes. They laid off 40,000 employees as cliff sales declined and arms dealers did business in the country's office.

Instead of increasing profits, Dick now prefers the new "Public Lands" chain, which has replaced most of the former Field & Stream stores. The new alarm store sells at premium prices, socially minded outerwear and accessories (don't tell your customers how much is in real oil), which represents the company's latest vision for the company's unarmed sales strategy.

Fast Company's story of the new brand includes the fatal decision of current former CEO Ed Stack after the shooting in Parkland to stop selling what author Talib Visram calls an "automatic" weapon.

America is used to the “thoughts and prayers” routine that follows a mass shooting. But when a gunman murdered 17 people at a high school in Parkland, Florida, in 2018—and Dick’s discovered that he had purchased a shotgun from one of its stores—the company abandoned the typical corporate script. Instead, then-CEO Ed Stack (son of founder Dick Stack) decided to permanently stop selling semiautomatic weapons.

Stack joined gun-reform group Everytown for Gun Safety, as part of its council of business leaders, and urged Congress to act on gun control. His stores, meanwhile, began systematically pulling all guns off their shelves. Today, just 13% of Dick’s stores sell firearms, and only those made specifically for hunting, and the company has drawn down its Field & Stream stores from 35 in 2018 to 21.

That was “a momentous time in our company’s history,” recalled Dick’s then-president and current CEO Lauren Hobart, speaking at Fast Company’s Innovation Festival in October. But it certainly wasn’t easy. Major gun companies cut ties, and the NRA proclaimed that the retailer was “punishing law-abiding citizens.” Dick’s was also the subject of a sustained, if not broad, customer boycott. “People who are angry have a longer memory, perhaps, than people who are supportive,” said Hobart. The company estimates that its decision to stop selling automatic weapons cost it about $250 million in revenue.

I'm not sure Dick sells automatic weapons, but I know they sell weapons, especially at their Field & Stream stores. They have also begun to unilaterally discriminate against young Americans - where they still sell firearms - who refuse to sell their weapons or ammunition, even if the state and locally allow it.

Even for the casual observer, it's easy to see him clumsily trying to hide in an empty shelf once occupied by the growing sale of weapons and equipment.

After Stack left the gun owners' business in America and officially removed firearms, magazines and accessories from their shelves, the shops became ghost towns in the Midwest.

It is no mystery why the company should look for a different concept for Field & Stream stores.
Of course, sales and traffic, um, have stalled. And the company's new anti-gun policy has led to a downturn.

Recently, when I was wasting time, I stopped by my local Dick in Bloomington, Illinois to find out what. I don't know the inside. It never occurred to you that they were wearing hunting, fishing or camping equipment. They seem to cater to young athletes and wealthy yuppies who buy fashionable branded exercise equipment and expensive jackets from $ 500 upwards.

You need to think about what Dick's stockholders think about prioritizing quarter-billion-dollar revenues, all in order to enjoy the progressive values ​​of the company's former CEO and lure you into the control sector.

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