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bamarep
Alabama Fan
Monkey Town
Member since Nov 2013
37640 posts

Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
LINK

quote:

Dick's Sporting Goods told investors during the Goldman Sachs Retailing Conference that its gun-control stance hurt sales of its hunting business, outdoors business, and that it may close its outdoor-focused Field & Stream stores. Edward Stack, chairman and CEO of Dick's, said during the event that the sporting goods chain's recent 3.9 percent drop in same-store sales was the result of a mix of factors beyond their control as well as some he called "self-imposed." Specifically, he said, "the decisions we made on firearms" negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation.


quote:

The company said it may soon close down their entire Field & Stream chain of 35 stores across 18 states. "My sense is that we can either take a look at closing that store, that concept or reconceptualizing it into a more of an outdoor type concept, and we're taking a look at all of these things and by the end of—the peak of the hunting season is coming up in—and basically, the end of the third and the beginning of the fourth quarter and as we move into the end of the fourth quarter, we'll make a decision as to what we're going to do," Stack said.



quote:

Field & Stream


quote:

reconceptualizing


quote:

into a more of an outdoor type concept


quote:

outdoor type concept


quote:

Field & Stream






This idiot is clueless. How the frick do you get MORE of an outdoor concept than a hunting store.

Who will give me odds this fricker will be unemployed in under a year?


Janky
LSU Fan
Team Primo
Member since Jun 2011
23636 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

that its gun-control stance hurt sales of its hunting business, outdoors business, and that it may close its outdoor-focused Field & Stream stores.


When feelings meet economics. Economics wins every time.


CoachChappy
LSU Fan
Boudin Capitol of the World
Member since May 2013
19251 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

Specifically, he said, "the decisions we made on firearms" negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation.


So, the CEO of a major retail operation did something that he knew would negatively affect sales, and he doesn't regret it AND gets to keep his job?

I'm in the wrong line of work.


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500
CAD703X
Toledo Fan
Liberty Island
Member since Jul 2008
56593 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
i used to go into dick's every once in awhile because its next to the target my wife likes to shop at.

i have not been in a couple years and after all this will never darken another dick's door.


Muthsera
Florida Fan
Member since Jun 2017
3059 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:


Who will give me odds this fricker will be unemployed in under a year?


His dad founded the company and the family are still majority stakeholders.

There was talk some years ago about them go back to being privately held, though I'm not sure if that's still under consideration.

When he says "outdoor concept", he means more like REI. Really he just means boats.

They tried to go high margin when they opened F&S and it bit them in the arse horribly; they can't move hunting apparel for shite and it's incredibly difficult to make money in shooting accessories if you are a big box store, doubly so if you never fully commit to the AR business and the entire gun purchasing market hates you.


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150
NIH
LA-Lafayette Fan
Member since Aug 2008
89130 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
Sometimes feelings is a good business move, aka Nike doubling down on the urban youth demographic.

Blatantly pissing on your customer base to virtue signal is retarded, which is exactly what this idiot did


piggilicious
Member since Jan 2011
26315 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

i have not been in a couple years and after all this will never darken another dick's door.


Sounds kinda not kinky


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130
Wtodd
Missouri Fan
Tampa, FL
Member since Oct 2013
38422 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
Keep doubling down there Einstein


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30
Tiger Prawn
LSU Fan
Member since Dec 2016
10066 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

Edward Stack, chairman and CEO of Dick's, said during the event that the sporting goods chain's recent 3.9 percent drop in same-store sales was the result of a mix of factors beyond their control as well as some he called "self-imposed." Specifically, he said, "the decisions we made on firearms" negatively affected their bottom line but the drop in sales was something they expected. They did not, however, regret their decision to change a number of their gun-sales policies and back new gun-control legislation.


If I was a Dick's stockholder, I'd want this guy fired ASAP for neglecting his duty to the company's investors to maximize sales and profits by taking actions that he admitted to knowing would hurt sales all because he wanted to virtue signal.


ShortyRob
LSU Fan
Member since Oct 2008
62177 posts
 Online 

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
One of the more fascinating aspects of many super wealthy people is that they seem to have no ability whatsoever to comprehend general human behavior. I mean, I get being disconnected to knowing what milk costs or something like that............but how do they now even know what their brand is?

It would be like the maker's of Coke coming out and making fun of people who drink soda with the goal of moving Coke COMPLETELY out of the soda game.



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teke184
LSU Fan
Zachary, LA
Member since Jan 2007
28423 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream


Why not, say, sell off the asset to another company which is in the outdoors game and wants the (tarnished) brand instead of closing it?


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30
ShortyRob
LSU Fan
Member since Oct 2008
62177 posts
 Online 

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

If I was a Dick's stockholder, I'd want this guy fired ASAP for neglecting his duty to the company's investors to maximize sales and profits by taking actions that he admitted to knowing would hurt sales all because he wanted to virtue signal.

It's one thing to decide you're not comfortable selling guns like you used to but this dude doesn't seem to have an articulated plan for what his plan-B is to fill the void.

Dad's business acumen doesn't appear to have rubbed off on him.


scrooster
South Carolina Fan
Resident Ethicist
Member since Jul 2012
28270 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
This all started for them when, after Sandy Hook, they shite on 10s of 1000s of us and backed out on pre-ordered AR15s and put the manufacturer out of business.

It's gone down hill for them since and they deserve to go under.


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110
LSUconvert
LSU Fan
Hattiesburg, MS
Member since Aug 2007
1866 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

How the frick do you get MORE of an outdoor concept than a hunting store.


Ever heard of REI? Probably something like that.


nes2010
South Alabama Fan
Member since Jun 2014
3774 posts
 Online 

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
They apparently also settled a lawsuit from a 20 year old who was denied the right to purchase a gun. LINK

quote:

From the text of the statute, it looked like a very strong case,” said Oleske. Oleske said it’s unusual that Dick’s hasn’t changed its policy as a result of the settlement. “Any other individual could go into any one of their stores, attempt to make a purchase and if they’re turned away bring a lawsuit,” he said. “The question is, why is Dick’s settling?”
. Anyone have a 20 year old kid? Let them get denied and get your lawyer on the phone.


teke184
LSU Fan
Zachary, LA
Member since Jan 2007
28423 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
So, their plan to make up for pissing off their customer base is to get into the resort destination business catering to the people who aren’t boycotting them for trying to abridge the 2nd Amendment?

Bold plan there, Cotton.


Crow Pie
Tulane Fan
Nuero ICU - Tulane Medical Center
Member since Feb 2010
17585 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

This idiot is clueless. How the frick do you get MORE of an outdoor concept than a hunting store.
I wonder if AA would see a downturn in sobriety if they put a bar on the meeting rooms.


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LSUconvert
LSU Fan
Hattiesburg, MS
Member since Aug 2007
1866 posts

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

trying to abridge the 2nd Amendment?






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LSURussian
LSU Fan
Member since Feb 2005
110145 posts
 Online 

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

darken another dick's door


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ShortyRob
LSU Fan
Member since Oct 2008
62177 posts
 Online 

re: Dick's CEO shows he may be worst CEO alive. May close down Field and Stream
quote:

Ever heard of REI? Probably something like that.

Well, whether you agree with him politically or not, this is a dumb plan.

You don't just rebrand yourself and wade into another company's core brand. It's not like REI is gonna say, "well come on down.........take some of our business!!!".

The niche he wants to enter already as customers who have loyalties. To use my coke example. It's like Coke saying, "OK, now the Coka Cola company is going to specialize only in foods that improve your health!!!"

You lose your original base.........and, no one in the new base takes you seriously.


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