Dick's CEO Confronted By Shareholder For Scorched Earth Against 2nd Amd.

[Bob Blaylock]

Get Woke! Go Broke!


Dick’s Sporting Goods Inc. DKS -2.17% said weaker sales of Under Armour Inc. apparel and a decision to pull back from the hunting business dragged on the retailer’s latest quarterly results.

Comparable-store sales fell 4%, Dick’s said. Not adjusting for the 53rd week last year, the company’s same-store sales declined 1.9%.

The weaker-than-expected results bucked a trend in the retail sector, which largely has benefited from a surge in consumer spending fueled by a booming economy.

Consumer confidence for August, measured by the Conference Board’s consumer-confidence index, was the highest it has been in about 18 years.

That sentiment, along with other factors, has powered companies such as Walmart Inc. WMT -0.45% and Target Corp. TGT 1.07% to their best quarterly results in more than a decade.

Dick’s said part of the company’s sales problems were a result of Under Armour’s decision to sell in more stores including Kohl’s. Under Armour declined to comment.

Also hurting sales was Dick’s decision to tighten its policy on gun sales after 17 people were killed in a February shooting at a Parkland, Fla., high school. The retailer halted sales of any firearms to people under age 21 at all of its 845 Dick’s and Field & Stream stores and stopped selling assault-style weapons at Field & Stream.

Under Armour’s results accounted for three percentage points of declining sales at Dick’s, while weakness in the hunting and electronics categories contributed two percentage points of decline. When excluding Under Armour and the hunting and electronics business, comparable-store sales fell 1%....

Dick’s Says Under Armour, New Gun-Sales Policy Dragged on Results

Dick's leadership is betraying the stockholders, by putting acting according to their liberal ideology instead of their professional and ethical responsibilities.


If we had a healthy corporate culture in this country, they would all, at least be fired, if not sued.

they are free to do so

and stock holders are free to leave

and customers are free to shop elsewhere

No, Dick's leadership is not free to act in interests counter to the interest of the sharedholders. They have fiduciary responsibility towards the shareholders for their stock ownership.

like i said if the stockholders are not happy they can invest elsewhere

Do you understand that the stockholders of a publicly-traded company are the owners of that company? The company belongs to the stockholders, and the CEO and the Board of Directors work for stockholders.

It is not the place of the CEO, Board of Directors, or other executives of such a company, to run the company according to their own will, without regard for the stockholders, and then to tell the stockholders that if they don't like it, they may sell their stock and invest elsewhere. It is very specifically the duty of such executives to represent the will and interests of the stockholders. To act against or with disregard for the will and interests of the stockholders is malfeasance.

 

[Uncensored2008]

At the annual shareholders meeting in Pittsburgh, Pennsylvania, CEO Edward Stack of Dick's Sporting Goods was confronted and grilled by shareholder and Second Amendment advocate David Almasi as to why the sporting good giant betrayed it's customers and more importantly "America's right to keep and bear arms" which is a founding principle of our democracy.

Almasi, a vice president at the National Center for Public Policy Research, attended the meeting representing the think tank's Free Enterprise Project, confronted Stack, accusing him of violating his responsibilities and fiduciary duties, by purposely giving money in support of anti gun propagandists.

Within the crowded assembly Almasi challenged Stack's anti gun stand, blasting the retailer's recent capitulation to the frenzied anti-gun zealots, stating; "Dick's has damaged its reputation by lending its voice and its resources to those who want to abolish the Second Amendment."

Adding, "30% of American adults own guns and another 11% live with someone who does. You've now alienated them."

The sudden assault to our Second Amendment by the retail sporting-goods giant began soon after the February 17th Parkland massacre, in which 17-innocent individuals were senselessly gunned down by a deranged loner.

The company also announced that it would raise the age limit to 21, for purchasing "all firearms," ironically the age limit is 3-years after the legal age for someone serving within the military.

However the most egregious policy change by Dick's is in their mistreatment of their loyal customer's, which are avoid sports enthusiasts, who respect the Second Amendment.

The scorched earth business decision by Dick's to willfully abandon a sizable portion of their loyal customer base, has had a profound negative effect on their bottom-line admitted Stack.

Dicks earnings have been good all year, with record earnings in Q1 this year. Earnings were down in Q3 solely because of disappointing sales of Under Armour. The end of sales for AR 15 rifles has not hurt the companies ratings or earnings at all.

Dicks isn't obligated to sell dumbasses AR 15 rifles, anymore than a religious nutjob is obligated to sell you a cake.

The fact that you believe this makes you way to fucking stupid to be in possession of a gun of any type.

Probably a cake to.

ohhh look, a communist is lying. Must be a day ending in "y"...

 

[JimBowie1958]

I dont shop there any more, I hear they are a bunch of di....never mind.

 

[Correll]

So what? I'm sure horse and buggy stock isn't doing so well, either. Times are changing, and people are waking up to what guns really are : death tools.

That's exactly what they are. Yet you will catch shade for calling them that. Guns have NO other function though. All value is derived from that function. The function of putting lead in flesh at range with intent to kill. They are dangerous weapons and our system of management is grossly unqualified.

Many, many guns exist solely to put holes in paper targets, not flesh. Many others never get fired at all and are simply works of art.

It is hard to believe he is stupid enough, to not know that.

 

[Correll]

Get Woke! Go Broke!


Dick’s Sporting Goods Inc. DKS -2.17% said weaker sales of Under Armour Inc. apparel and a decision to pull back from the hunting business dragged on the retailer’s latest quarterly results.

Comparable-store sales fell 4%, Dick’s said. Not adjusting for the 53rd week last year, the company’s same-store sales declined 1.9%.

The weaker-than-expected results bucked a trend in the retail sector, which largely has benefited from a surge in consumer spending fueled by a booming economy.

Consumer confidence for August, measured by the Conference Board’s consumer-confidence index, was the highest it has been in about 18 years.

That sentiment, along with other factors, has powered companies such as Walmart Inc. WMT -0.45% and Target Corp. TGT 1.07% to their best quarterly results in more than a decade.

Dick’s said part of the company’s sales problems were a result of Under Armour’s decision to sell in more stores including Kohl’s. Under Armour declined to comment.

Also hurting sales was Dick’s decision to tighten its policy on gun sales after 17 people were killed in a February shooting at a Parkland, Fla., high school. The retailer halted sales of any firearms to people under age 21 at all of its 845 Dick’s and Field & Stream stores and stopped selling assault-style weapons at Field & Stream.

Under Armour’s results accounted for three percentage points of declining sales at Dick’s, while weakness in the hunting and electronics categories contributed two percentage points of decline. When excluding Under Armour and the hunting and electronics business, comparable-store sales fell 1%....

Dick’s Says Under Armour, New Gun-Sales Policy Dragged on Results

Dick's leadership is betraying the stockholders, by putting acting according to their liberal ideology instead of their professional and ethical responsibilities.


If we had a healthy corporate culture in this country, they would all, at least be fired, if not sued.

they are free to do so

and stock holders are free to leave

and customers are free to shop elsewhere

No, Dick's leadership is not free to act in interests counter to the interest of the sharedholders. They have fiduciary responsibility towards the shareholders for their stock ownership.

like i said if the stockholders are not happy they can invest elsewhere

You are missing the point. If someone bought the shares at a higher price, selling at a loss due caused by management's horrible decisions is rather cold comfort.

It is difficult to believe that he is stupid enough to not know that.