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Thursday, March 22, 2018

Virtue signalling doesn't pay the bills

Dick's stopped selling assault rifles and imposed a ban on selling guns to anyone under 21 at its Field and Stream stores.

That's like McDonald's going vegan.

And the results are predictable.

"Only weeks after winning accolades from gun-control advocates for ending sales of assault rifles at its Field and Stream stores, Dick’s posted a deeper-than-expected sales decline. Its stock sank the most in four months Tuesday in the wake of the quarterly report, which reflected struggles with excess inventory and deep discounting," Fortune magazine reported.

Accolades from advocates are worthless.

Virtue signalling doesn't pay the bills.

None of these advocates -- fanatics -- would be caught dead in a Field and Stream store.

In fact, they hate hunting and fishing. They wanted to ban lead fishing weights. Remember?

But that is the crowd Dick's CEO Edward W. Stack decided to suck up to.

They want him bankrupted, by the way.

Now a month ago, Stack knew Dick's sales numbers. So he decided to restrict the one item Amazon -- the bane of American retailers -- cannot sell. Guns. Mail order sales of guns was banned 50 years ago, and certainly an online retailer is considered a mail order company.

But Stack threw that advantage away. Wall Street noticed.

"Shares of Dick’s fell as much as 7.3 percent to $30.19 in New York, the biggest intraday decline since mid-November. They had climbed 13 percent this year through Monday’s close," Fortune reported.

Gun America News and Reviews said, "Dick’s is facing more than just financial trouble. We reported earlier this month that the company is fighting a lawsuit for age discrimination from a 20-year-old in Oregon who was denied the purchase of a Ruger 10/22 at a Field and Stream. Based on Oregon’s discrimination laws, his suit has a good chance of success."

Maybe Stack shorted his company's stock just before he decided to join the anti-Second Amendment crowd. I hope so for the company's sake because it is better to have a sneaky, greedy CEO than a stupid one.

14 comments:

  1. The CEO of (the appropriately named) Dick's is not answerable to the company's shareholders. He certainly is not answerable to mere customers. He is answerable to his fellow virtue signallers at the George H.W. Bush-wood Country Club. He is also answerable to all the Wall Street analysts at the mega-investment banks with whom he hobnobs at the Hillary/Pelosi/Schumer fundraisers. Such is capitalism in the 21stCentury.

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  2. I'm one person who stopped buying at Dicks and switched to nearby Big-5
    JimNorCal

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  3. Sorry Don but this time you are somewhat misinformed. While mail order straight to my mailbox got nixed in 1968, online order straight to my favorite FFL is alive and well. If Amazon wamted to sell guns they could join in with Gunbroker or gunsAmerica which operate like eBay or compete with Buds, CDNN or Grab a Gun which sell without the auction format. The only reason Amazon doesn't sell guns is they don't want to.
    That doesn't change the fact that Dick's behaves like dicks, again.

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  4. went to Dick's last month. I am an avid fisherman,but found their supply of fishing fear severely lacking. It is a clothing store masquerading as a sports store. Nothing to see here, please move along.

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    1. It is a clothing store masquerading as a sports store.

      This.

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  5. It'll be interesting to see what happens when the increasingly popular 21 yr age limit makes its way to a Scotus challenge.

    The 2nd Amendment talks about "a well regulated Militia". A militia is a military or paramilitary organisation. In the US you can join the military at age 17 and carry actual assault firearms.

    It seems to me if 17 is the age to enter the US military that Scotus just might regard 17 as the implied age to enter the Militia too, and therefore overturn these new age limits.

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    Replies
    1. We can dream. The supreme injustices of the court won't even back up their own rulings which are being defied by lower courts.

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    2. Point of fact. US code defines the militia as all able bodied males ages 17 to 45 and females who are in the national guard. Seems weird to refuse to sell a bolt action .22 to the militia.

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  6. ....If you use liberal words....like "Assault Rifles"...they have already won....they are Semi-Automatic Rifles....

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    Replies
    1. Yes.

      Or Modern Sporting Rifles.

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    2. That's right: the only real "assault rifles" are full automatic/select fire rifles as issued to military forces.

      Automatic weapons are legal (not in all states) but require a Class 3 licence and the payment of a $200 tax; none newer than 1986 can be purchased by civilians, and the license requires an extensive background check.

      The MSM, since they want to demonize guns, refer to virtually all semiautomatic rifles as "assault rifles" or "assault weapons," which is almost never accurate.

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  7. ....Most people are FOR....Affirmative Action.....most people are AGAINST....Racial Quotas & Preferences.......same thing...

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  8. Edward is doing what most people who inherited their fortune do - blowing it. Pretty easy to virtue signal and not care about the business and people you employ when you're not the one who busted your ass to keep things together between sleepless nights worried about the business you started. It's like Monopoly money for the lucky sperm club.

    And did anyone really use Dick's to buy guns (it really is a clothing store calling itself a sporting goods store)? I've bought my last 4 guns on Buds online, and just have them shipped to my local guy who just does the FFL work. Cheaper Than Dirt is pretty nice too.

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