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Economy
Dick's CEO Says Anti-Gun Policy Shrank Company by a ‘Quarter Billion Dollars'
2019-10-09
[Free Beacon] The CEO of Dick's Sporting Goods told CBS News this weekend that his decisions to stop selling certain guns and hire lobbyists to push for new gun bans have cost his company roughly $250 million.

CBS Sunday Morning host Lee Cowan asked Dick's CEO Ed Stack how much his company lost after the retailer decided to stop selling firearms to anyone under the age of 21.

"About a quarter of a billion," Stack replied. "Pretty close."

Stack also said the company destroyed $5 million worth of rifle inventory because Stack believed no one should be allowed to own them.

"I said, ’You know what? If we really think these things should be off the street, we need to destroy them,'" he told CBS.
Posted by:Besoeker

#5  "Stutter" is what the senior leadership do when asked to explain why they lost so much money that lead to shuttering the company...

So you're not wrong Skidmark!
Posted by: Seeking Cure For Ignorance   2019-10-09 21:41  

#4  'shutter',
NOT 'stutter'.
Posted by: Skidmark   2019-10-09 19:01  

#3  Now watch'em give all the senior leadership massive Christmas bonuses, then shutter everything in Feb, 2020.
Posted by: Besoeker   2019-10-09 19:00  

#2  And he said the losses are about what he expected

I'm so old, I remember when CEOs wanted to make a profit.
Posted by: SteveS   2019-10-09 16:40  

#1  "In the company's 2018 annual report, he wrote that gun sales were a "sizeable part" of Dick's business" Are they a privately held company, how does he still have a job?

There are many ways they could have gone about removing guns from inventory (Sell existing stock, split the company to create a hunting-based spin-off, quietly return the guns to the manufacturers) but Dick's CEO insulted customers while virtue-signaling to never-gonna-be-customers and he cost the company big.

And he said the losses are about what he expected. He should be tarred-and-feathered.
Posted by: Rjschwarz   2019-10-09 14:55  

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