Sportsmen Have Spoken And Wall Street Is Beginning To Listen
Early this year, on these very pages, we discussed the so-called sporting goods store Dick’s, and Field & Stream, which owns Dick’s. At the time I shared some quotes and decisions by CEO Edward Stack that prove to many that he is not in favor of the second Amendment and will run his business accordingly.
Recently it was made public that Dick’s had hired three Beltway lobbyists to lobby for gun control in Congress, a move that officially began at the end of April. Dick’s also shared that it would destroy the weapons it will no longer sell, a strong statement about its attitude toward this inventory.
This is when the gun industry began to show its displeasure with Dick’s. Many vendors gradually backed away from the Keystone State-based retailer. Following suit, the parent company of Mossberg guns, O.F. Mossberg & Sons Inc., announced recently that it would no longer do business with Dick’s.
“It has come to our attention that Dick’s Sporting Goods recently hired lobbyists on Capitol Hill to promote additional gun control,” CEO Iver Mossberg said. “Make no mistake, Mossberg is a staunch supporter of the U.S. Constitution and our Second Amendment rights, and we fully disagree with Dick’s Sporting Goods’ recent anti-Second Amendment actions.”
Following Mossberg, MKS Supply, which makes Hi-Point Firearms, also announced it would no longer do business with Dick’s. In a statement, MKS wrote that it “values the customers that it proudly serves and the God-given freedoms that they enjoy” and that it believes it’s “equally important to show our commitment to our customers by standing behind their Second Amendment rights.”
“In recent months, Dick’s Sporting Goods and its subsidiary, Field & Stream, have shown themselves, in our opinion, to be no friend of Americans’ Second Amendment,” MKS Supply president Charles Brown wrote. “We believe that refusing to sell long guns to adults under age 21, while many young adults in our military are not similarly restricted, is wrong. We believe that villainizing modern sporting rifles in response to pressure from uninformed, anti-gun voices is wrong. We believe that hiring lobbyists to oppose American citizens’ freedoms secured by the Second Amendment is wrong. Dick’s Sporting Goods and Field & Stream, in purportedly doing all of these things, have demonstrated that they do not share our values. We’re standing by the American people by refusing any further sales to Dick’s Sporting Goods & Field & Stream.”.
Springfield Armory, another gun manufacturer, also dropped Dick’s, sharing that the decision was because the retailer had hired lobbyists, but also citing Dick’s decision to destroy the firearms it wasn’t selling and raise its gun-purchasing age.
The National Shooting Sports Foundation also announced it would revoke Dick’s membership. Earlier this year NSSF shared, it was “disappointed” by Dick’s decision to stop selling assault-style weapons and raising the purchasing age to 21. This time around, it’s distancing itself completely from Dick’s because of “conduct detrimental to the best interests of the Foundation.”
Mossberg and Springfield are some of the most powerful firearm companies, and the NSSF is the country’s largest gun trade association.
Like all public-traded companies (while privately owned), it comes down to the Stock Market. Not withstanding the recent downturn, Dick’s stock had seen significant drop in the past several months. But like all good CEO’s, Stack said in a recent earnings call that he expects “there are going to be people who don’t shop us anymore for anything.”
While this is a spin move for stock holders by Stack, it seems that it has hit a little closer to home with announcements that are going to made after the first of the year.
Seeing as how the gun industry is painting it as an enemy of the Second Amendment, Dick’s is now in danger of losing a large part of its gun business, which is hurting its bottom line and stock value.
It seems that not only are firearm and related companies refusing to do business with Dick’s/Field & Stream, but there are also hundreds of employees nationwide who have left employment with the anti-Second Amendment company, several of those in management positions, saying it has to do with its recent decisions.
The proof to any stockholder is, not what have you done for me yesterday, but what are you going to do for me tomorrow. It doesn’t take a rocket scientist to see the writing on the wall when a business wants to start going downhill. From what I have been told — I refuse to shop at either Dick’s or Field & Stream — it’s as easy to find floor staff as it has been in the past. What could be next, adjusted hours, shelves that aren’t filled or even store closing. Will these happen? Who knows, but when you upset millions of your customers, time will only tell.
Again, sportsmen and the hunting industry have dug their heels in and shown the world that we will not stand by and have our passions messed with.