Dick’s Sporting Goods CEO Ed Stack admitted that his company lost $250 million after he decided not to sell guns to people under 21-years-old.
The company also destroyed $5 million worth of rifles “because Stack believed no one should be allowed to own them.”
Dick’s decided to stop selling certain rifles and high-capacity magazines in 2018 after the shooting at Marjory Stoneman Douglas High School in Parkland, FL.
Stack decided to take this route even though the shooter did not use the gun he purchased at Dick’s. He used the gun he bought at Sunrise Tactical Supply.
The company stopped selling guns at 125 locations. Stack has considered banning gun sales from all of the stores in the future.
From The Washington Free Beacon:
“I said, ‘You know what? If we really think these things should be off the street, we need to destroy them,'” he told CBS.In the interview, Stack was unapologetic about the loss of hundreds of millions of dollars worth of revenue. He said the company lost about as much money as he expected it to lose when he decided to institute a new gun control posture.
The loss of money has not changed Stack’s mind about the anti-gun policy nor has the fact that it will likely “continue to have an impact going forward.” He still uses Dick’s money to lobby for more gun control and force other stores to stop selling specific guns:
“The hunting category is a sizeable part of our business; however, there has been an overall slowdown in sales in this category since the announcement of our new firearms policy,” the annual report read. “Despite this, we continue to believe that implementing this new policy is the right decision for our athletes and our communities. In fact, if we could go back and revisit it, we would still make the same choice today.”—“Negative publicity or perceptions involving the Company or our brands, products, vendors, spokespersons, or marketing and other partners may negatively impact our reputation and adversely impact our ability to attract and retain customers and employees,” the report’s section on risk factors said. “For example, after the Company announced changes to its policy relating to the sale of firearms and accessories and announced its support for certain gun reform measures in the first quarter of 2018, the Company’s hunt business experienced an accelerated decline.”
Will Stack’s virtue-signaling affect the gun business? Stephen Gutowski pointed out that a 2018 report shows “the gun industry had been experiencing a slowdown in sales over the last several years.”
Sales have picked up in the past two months as Democrats and the left continue to tout gun control.
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