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Dicks Sporting Goods in the news again

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http://www.foxnews.com/us/2018/04/17/dicks-sporting-goods-to-destroy-all-unsold-firearms-pulled-from-shelves-after-parkland-shooting.html

More nonsense from Dicks Sporting Goods.

Their stock will hopefully plummet and they will go away for once and for all. 

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What really ticks me off is they are moving into an empty sports authority store 5 minutes from home.  When I heard about it I thought great I can at least pick up some 22 ammo close by.  Now, well, I guess on line ammo purchase it is.  As long as comrade Murphy allows it that is.

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I'm sorry but when did they ever even sell "assault style" guns? I've never seen an AR there, and the only pistol grips I ever saw in Dick's were on turkey guns or those new Ruger bolt action rifles. Unless they do sell AR-15 and WASR in other regions? Anyone know? Seems to me like a publicity stunt more than anything, I'd be curious to know how many guns are being destroyed. I don't think it's many.

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22 minutes ago, 9X19 said:

http://www.foxnews.com/us/2018/04/17/dicks-sporting-goods-to-destroy-all-unsold-firearms-pulled-from-shelves-after-parkland-shooting.html

More nonsense from Dicks Sporting Goods.

Their stock will hopefully plummet and they will go away for once and for all. 

Good for them.    The manufacturers are hurting, with the post-election downturn in sales.   This way, the manufacturers of all those guns sold to Dicks get to make and sell them a second time.    The same number of guns end up with the happy sportsmen, but the sales figures double for the manufacturers.    It's a win-win, even though Dicks management was too stupid to realize it.

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4 minutes ago, mossburger said:

I'm sorry but when did they ever even sell "assault style" guns? I've never seen an AR there, and the only pistol grips I ever saw in Dick's were on turkey guns or those new Ruger bolt action rifles. Unless they do sell AR-15 and WASR in other regions? Anyone know? Seems to me like a publicity stunt more than anything, I'd be curious to know how many guns are being destroyed. I don't think it's many.

Their Field and Stream stores.

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14 minutes ago, mossburger said:

I'm sorry but when did they ever even sell "assault style" guns? I've never seen an AR there, and the only pistol grips I ever saw in Dick's were on turkey guns or those new Ruger bolt action rifles. Unless they do sell AR-15 and WASR in other regions? Anyone know? Seems to me like a publicity stunt more than anything, I'd be curious to know how many guns are being destroyed. I don't think it's many.

In other states, real states, Dicks sold all kinds of stuff. They’re much like a Cabalas out west. Here they’re mostly a clothing store. 

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Ammunition Company Slaps Anti-Gun Dick’s with $5 Mil Lawsuit

BY BEN MARQUIS 
OCTOBER 30, 2018 AT 11:02AM Share Tweet Email Print

The Dick’s Sporting Goods retail chain drew the ire of the pro-gun community earlier this year when the corporation decided it would no longer sell firearms to individuals younger than age 21 and would no longer sell AR-15-style semiautomatic rifles to the general public in the aftermath of the Parkland school shooting in Florida.

But now Dick’s is facing potential trouble in light of an unrelated incident that will nevertheless also enrage many within the pro-gun community, as the retail chain has been sued by an ammunition distributor and accused of both breach of contract and market manipulation in 2016.

Guns.com reported that Nevada-based ammunition distributor Battle Born Munitions has filed a lawsuit against Dick’s in federal court in Pennsylvania seeking to recoup more than $200,000 in various costs born by BBM as well as about $5 million in damages from a separate major contract for BBM that was lost due to Dick’s actions.

According to the facts as laid out in the motion demanding a jury trial and judgment for breach of contract and fraud, BBM entered into an agreement with Dick’s in January 2016 to provide the retail chain with special ammunition packaged and stamped with Dick’s house brand “Field and Stream,” ammunition that was to have been delivered by November 2016 and fully paid for no more than two months later.

BBM, a State Department-registered and licensed international broker of arms and ammunition, subsequently farmed out and prepaid the order for the “Field and Stream” packaged and stamped ammunition of various calibers to two foreign manufacturers: Ingman, which was paid nearly $2.3 million, and RUAG, which received nearly $2.2 million, for a total capital investment of nearly $4.5 million.

However, Dick’s refused to accept delivery of the house branded ammunition in November 2016, according to the lawsuit, and didn’t pay for it at that time either. That forced BBM to warehouse the stock of specially branded ammunition at its own cost as it couldn’t be sold to any third-party retailer due to the special brand and licensing issues.

Dick’s eventually took possession of the ammunition and paid most of the outstanding invoices in August 2017, though BBM alleged that Dick’s took a 2 percent discount on the total cost that only should’ve applied if the company paid for the order within 30 days. BBM also said Dick’s had improperly deducted various chargebacks on parts of the inventory that the retail chain claimed, without providing documented evidence, didn’t meet their specifications.

Adding together the improper discounts, chargebacks, warehousing fees, additional liability insurance for the warehoused ammo, BBM estimated that Dick’s owed the distributor roughly $200,000.

The motion also detailed a separate agreement entered into by BBM that would have netted the company $5 million in profit, only to have been canceled as a direct result of Dick’s failure to pay for the ammo order in a timely fashion.

In December 2016, BBM had arranged for the U.S. government-approved sale of 12 Bell helicopters to the government of Lebanon, a purchase order worth an estimated $48 million. BBM planned to purchase and transport the helicopters from Bell to Lebanon for a cost of $37.2 million but was required to make a 10 percent deposit of $3.72 million to get production started, the lawsuit said.

However, because of Dick’s failure to pay for the ammunition it had ordered and was supposed to have accepted one month earlier, BBM’s capital was still tied up with the foreign manufacturers, leaving the distributor incapable of making the deposit for the helicopters, BBM alleges. That resulted in Lebanon canceling the lucrative order in April 2017.

As if that weren’t bad enough, BBM also said in the motion that the reason for Dick’s refusal to accept the specially branded ammunition was the retail chain’s desire to manipulate the market on ammunition and drive up prices.

Being a retail store, the value of stock in Dick’s is heavily dependent upon the retail chain’s inventory. Dick’s refusal to accept the ammunition it had ordered from BBM made it appear as though Dick’s had low inventory — which is attractive to investors — while in reality it merely had the specially branded inventory stored off-site — which could not be sold to a third-party, and was stored at the vendor’s expense — until such time as Dick’s needed it, presumably when prices were higher.

Recall that this occurred in the lead-up to the 2016 election, in which gun control was a predominant issue and it was widely expected that, if Democratic nominee Hillary Clinton had emerged victorious, there would have been a run on firearms and ammunition, which undoubtedly would have caused prices to soar. Yet Clinton didn’t win, and there was no run on firearms and ammunition, which resulted in prices holding steady or dropping instead of rising as anticipated.

In the end, BBM alleged that Dick’s was in breach of contract, in that it ordered the house-branded ammunition and then refused to accept delivery or pay for the stock at the time or amount stipulated. BBM further alleged that Dick’s had fraudulently induced the distributor into entering into an agreement it had no intention of upholding, and charged the retail chain with negligent misrepresentation for misleading BBM into believing it would be paid on time.

Thus, BBM requested that the court grant it a jury trial and judgment that would compel Dick’s to pay BBM $200,938 in incidental damages and $5.2 million in consequential damages for lost profits, not to mention pre- and post-judgment interest on both awards as well as all court costs, litigation expenses and attorney’s fees as a result of the lawsuit.

It will be interesting to see how this legal battle out in the coming months, and whether Dick’s is held accountable for its alleged breach of contract and market manipulation that substantially damaged the profitability and reputation of a vendor.

Regardless, the allegations only serve to remind the pro-gun community that the retail chain is not a friend of the Second Amendment.

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I used to pick up 9mm from Dick's when it was on sale. Haven't set foot inside since the CEO went off the rails. Feel bad for the employees, but could care less if Dick's went belly up. Too bad,  because the younger guy at my local store was ok.

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8 hours ago, myhatinthering said:

will never set foot in Dicks again, just won't

I also don't associate with people that shop there, have liberal friends that want to take away my rights or support Dem candidates

those people are dangerous to my Republic

They're not your friends.

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just a reminder: even buying from dick's when they have a killer sale, is helping them.  yes they may (or may not!) be taking a loss on the sale, but it's less of a loss than if they NEVER sell the product at all.  if everyone committed to NOT buying anything from dick's, at least until they're filed for chapter 7 bankruptcy and liquidation, then they'd go out of business sooner rather than later.

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While I applaud the extent of everyone’s here, myself included, DICK’S is unfortunately not going under.  Their stock is up almost 50% in the pat 12 months and their earnings statements show a positive trend.

The only good thing we can continue to do is redirect our hard earned money towards 2A friendly stores or local stores. 

With three kids that outgrow cleats or sneakers on what appears to be a monthly basis, we’ve become avid buyer of adidas shoes from our local store.  

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On 4/18/2018 at 1:04 PM, 10X said:

Good for them.    The manufacturers are hurting, with the post-election downturn in sales.   This way, the manufacturers of all those guns sold to Dicks get to make and sell them a second time.    The same number of guns end up with the happy sportsmen, but the sales figures double for the manufacturers.    It's a win-win, even though Dicks management was too stupid to realize it.

I thought the same thing.   They already paid the distributors for them and the distributors paid the gun companies themselves so the only losers in this "show of compassion" are DICKS.  

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I thought the same thing.   They already paid the distributors for them and the distributors paid the gun companies themselves so the only losers in this "show of compassion" are DICKS.  


If Dicks actually went through with destroying them instead of returning them.


Sent from my iPad using Tapatalk

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While I applaud the extent of everyone’s here, myself included, DICK’S is unfortunately not going under.  Their stock is up almost 50% in the pat 12 months and their earnings statements show a positive trend.
The only good thing we can continue to do is redirect our hard earned money towards 2A friendly stores or local stores. 
With three kids that outgrow cleats or sneakers on what appears to be a monthly basis, we’ve become avid buyer of adidas shoes from our local store.  


You are correct. Dicks is becoming the last Man standing in the sporting goods retail space. Their stock is very strong and has greatly outperformed the overall market. Though not only should the 2A crowd stay away the Antis should as well since they politicized the Parkland Shooting and made it seem it was because of the shooting they were implementing their policy changes. When in reality that decision was made a month prior.

https://www.barrons.com/articles/how-nuns-won-duelswith-the-gun-makers-1538179319?tesla=y


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27 minutes ago, capt14k said:

 


If Dicks actually went through with destroying them instead of returning them.


Sent from my iPad using Tapatalk

 

my understanding is that distributors and manufacturers were telling dick's to go pound their meat when they tried to return stuff.

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From what I can see, the only thing keeping Dick’s afloat right now is that they have no competition. Cabelas and Bass Pro are few and far between, Gander Mountain went under and just recently came back but limited locations, Sports Authority is gone. Dick’s is the only national sporting goods retailer left. That won’t be able to sustain them for long though.

Barnes and Nobel is in the same place as a retailer. All the other physical book stores are long gone (Borders, Wldenbooks, B.Dalton, etc) so B&N is getting whatever foot traffic there is for book stores the same way that Dick’s is getting whatever foot traffic there is for sporting goods. 

However, B&N is also competing directly with Amazon online. They were the first to directly take on Amazon and arguably the most successful just by staying alive. Dick’s online presence is rudimentary at best and really just showcases the sales ads. Only a small part of their inventory is online and they don’t seem that interested in making an online presence. I think that is what is going to kill them. Cabelas/Bass Pro have a very advanced online sales presence. People in their 40’s and 50’s are pretty online savvy and younger then that definately are. Dick’s is going to eventually turn into a sneaker and clothing store, those are the only areas most people still shop retail stores for and it’s only going to get more competitive for them. 

We are talking years that they can limp along though and maybe they’ll get their online presence together at some point. 

I think they should just give up on firearms and archery all together and focus on baseball and soccer. Less drama and really where it seems they want to be anyway... I think we all agree they should just shut up and get out of the line of business if they are re going to act like this and leave the rest of us alone. Taking profit from firearms while bad mouthing firearms owners is just pure hypocrisy...

JMHO

-Jim

 

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7 hours ago, JimB1 said:

From what I can see, the only thing keeping Dick’s afloat right now is that they have no competition. Cabelas and Bass Pro are few and far between, Gander Mountain went under and just recently came back but limited locations, Sports Authority is gone. Dick’s is the only national sporting goods retailer left. That won’t be able to sustain them for long though.

Barnes and Nobel is in the same place as a retailer. All the other physical book stores are long gone (Borders, Wldenbooks, B.Dalton, etc) so B&N is getting whatever foot traffic there is for book stores the same way that Dick’s is getting whatever foot traffic there is for sporting goods. 

However, B&N is also competing directly with Amazon online. They were the first to directly take on Amazon and arguably the most successful just by staying alive. Dick’s online presence is rudimentary at best and really just showcases the sales ads. Only a small part of their inventory is online and they don’t seem that interested in making an online presence. I think that is what is going to kill them. Cabelas/Bass Pro have a very advanced online sales presence. People in their 40’s and 50’s are pretty online savvy and younger then that definately are. Dick’s is going to eventually turn into a sneaker and clothing store, those are the only areas most people still shop retail stores for and it’s only going to get more competitive for them. 

We are talking years that they can limp along though and maybe they’ll get their online presence together at some point. 

I think they should just give up on firearms and archery all together and focus on baseball and soccer. Less drama and really where it seems they want to be anyway... I think we all agree they should just shut up and get out of the line of business if they are re going to act like this and leave the rest of us alone. Taking profit from firearms while bad mouthing firearms owners is just pure hypocrisy...

JMHO

-Jim

 

B&N has one major advantage over Dick's, they are pretty much a staple at every college campus. I do believe that the college business is what is keeping B&N alive. Pretty much nothing is going to keep Dick's alive. I have always been a avid shopper at Dick's, I even defended them in the past because they never price gauged during the ammo shortage. But ever since the entire fiasco with the Anti-2A lobbyists I have never stepped foot into Dick's again, and never will, and neither will my family.

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