Analyst slams Dick’s Sporting Goods over new gun policies
By Christen Smith
Dick’s Sporting Goods faces uncertainty over new gun polices. (Photo: Dick’s Sporting Goods/Facebook)
A financial analyst slammed leadership at Dick’s Sporting Goods this week for becoming “the corporate face of gun control.”
Yanni Lodato, a contributor at Seeking Alpha, criticized Chief Executive Officer Ed Stack for adopting a “disadvantageous political alignment” when he banned gun sales to customers under 21 and pulled modern sporting rifles from the shelves at three dozen Field and Stream stores across the nation.
Stack previously discontinued “assault-style” rifles at more than 800 Dick’s locations after the Sandy Hook massacre in 2012. The newest rules come in the wake of a February school shooting in Parkland, Florida that claimed 17 lives.
“In one fell swoop, Stack effectively alienated a large portion of the store’s clientele base,” Lodato said. ” I don’t understand why management would assume a political position, although a step toward stricter gun control may be the ethical or moral high ground, management should conceptualize that a sizable portion of shoppers are gun enthusiasts, resulting in both decreased sales and potential customer loss over this very personal issue. ”
A handful of other high-profile retailers followed in Dick’s footsteps in March, including Walmart, Kroger and L.L. Bean. Lodato points out share prices