Dick’s Destroyed $5 Mil. Worth of ‘Assault Rifles’ to Keep Them ‘Off the Street’

Dick’s Destroyed $5 Mil. Worth of ‘Assault Rifles’ to Keep Them ‘Off the Street’

This is a discussion on Dick’s Destroyed $5 Mil. Worth of ‘Assault Rifles’ to Keep Them ‘Off the Street’ within the FFL Dealer Discussion forums, part of the Related Topics category; I am not sure that all their shareholders will be happy about this. Dick’s Destroyed $5 Mil. Worth of ‘Assault Rifles’ to Keep Them ‘Off ...

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    VIP Member Array G26Raven's Avatar
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    Dick’s Destroyed $5 Mil. Worth of ‘Assault Rifles’ to Keep Them ‘Off the Street’

    I am not sure that all their shareholders will be happy about this.

    Dick’s Destroyed $5 Mil. Worth of ‘Assault Rifles’ to Keep Them ‘Off the Street’
    AWR HAWKINS 6 Oct 2019

    Dick’s Sporting Goods CEO Ed Stack told CBS News that his company destroyed $5 million worth of “assault-style rifles” to keep them out of private hands.

    Dick’s announced a halt to “assault-style rifles” two weeks after the February 14, 2018, Parkland high school shooting.

    On April 17, 2018, Breitbart News reported that Dick’s was destroying its “assault-style rifle” inventory, rather than returning the firearms to their manufacturers. Fox News quoted a spokesperson from Dick’s saying, “We are in the process of destroying all firearms and accessories that are no longer for sale as a result of our February 28th policy change. We are destroying the firearms in accordance with federal guidelines and regulations.”


    https://www.breitbart.com/politics/2...m-off-street/#
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    Distinguished Member Array Shootnlead's Avatar
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    They destroyed more dollars than that in stock prices.
    Last edited by Shootnlead; October 7th, 2019 at 01:11 AM.
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    Senior Member Array DownInTheDark's Avatar
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    Next news story: Dick's Sporting Goods removes urinals from their stores.

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    Member Array TimBob's Avatar
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    Quote Originally Posted by DownInTheDark View Post
    Next news story: Dick's Sporting Goods removes urinals from their stores.
    So, there's no urinals for Dick's, eh?

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    VIP Member Array airslot's Avatar
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    More from the article:

    During his October 6, CBS News appearance, CEO Ed Stack said the company ended up destroying $5 million worth of “assault-style rifles.”

    Stack also admitted the Dick’s gun control stance has resulted in “a quarter of a billion [dollars]” in loses. But Stack does not regret the gun control stance. Rather, he is considering taking the company even further down the gun control path.



    As of right now, 100 Dick’s stores no longer sell guns of any kind. Stack is thinking about expanding that policy so that no Dick’s store sells a gun.
    Why not just close the doors and be done with it?
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    I wonder if they can legitimately write that off.....

    Any accountants in our DC group?
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    Member Array SWsouthpaw's Avatar
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    I call BS. Is there any second, third, fourth, or fifth party source that will verify that Dick's actually did destroy said weapons?

    I will not click on a Breitbart link. And no, I will not apologize for not doing so, either.
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    VIP Member Array jmf552's Avatar
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    Quote Originally Posted by SWsouthpaw View Post
    I call BS. Is there any second, third, fourth, or fifth party source that will verify that Dick's actually did destroy said weapons?

    I will not click on a Breitbart link. And no, I will not apologize for not doing so, either.
    I can find a lot of sources saying Dick's planned to destroy the guns and a few that reported that Dick's "is destroying" the guns, but with no specifics on how they were destroying them, who was handling that for them or how it was going. The only outlets I could find that reported the Dick's had actually destroyed the guns was Brietbart and the NRA. So I have my doubts they actually destroyed them. I think if they had, they would have made a big deal about it. I am sure there are brokers who could "dispose" of the guns by finding government buyers for them. $5M in inventory is a lot to throw out.
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    VIP Member Array Brad426's Avatar
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    Dicks.
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    VIP Member Array graydude's Avatar
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    Quote Originally Posted by SWsouthpaw View Post
    I call BS. Is there any second, third, fourth, or fifth party source that will verify that Dick's actually did destroy said weapons?

    I will not click on a Breitbart link. And no, I will not apologize for not doing so, either.
    Here’s a CBS link: https://www.cbsnews.com/news/corpora...ontrol-debate/

    Edit to add extract from link:
    "Cowan asked, "How much did you think you were going to lose?"
    "A quarter of a billion dollars," Stack replied.
    "And how much did you actually lose?"
    "About a quarter of a billion! Pretty close."
    On top of that, the assault-style rifles he still had in stock – about $5 million worth of inventory – he turned into scrap metal.
    "I said, 'You know what? If we really think these things should be off the street, we need to destroy them,'" he said."
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    Senior Member Array KILTED COWBOY's Avatar
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    Well "Bless their Hearts"

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    VIP Member Array Havok's Avatar
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    But they still sell AR15 airsoft guns so children can practice shooting their friends.
    https://www.dickssportinggoods.com/p...m15lghttctcsag
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    Quote Originally Posted by Rockymonster View Post
    I wonder if they can legitimately write that off.....
    Yes, they can.
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    It's interesting, because even those who believe civilians shouldn't own them, accept that the military and (usually) police should have them. So, instead of destroying them, they could have offered them at a deep discount to LE or military customers. Even if they're not duty-grade weapons, doubtless they'd be useful for training, parts, or gifts to allies, at the right price.

    So this amounts to a very expensive advertising campaign.
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    Clearly he is forgetting how supply and demand works. While those specific guns in the Dick's inventory might never "reach the street", there are more than enough willing suppliers to satisfy the demand for the $5M worth of destroyed guns. Net difference on the street zero. All they have done is beat their SJW chests to feel good about themselves, ******* off both customers and stock holders. I for one will never set foot in Dick's again.
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