Dick’s Sporting Goods to remove even more guns from shelves

Dick’s Sporting Goods to remove even more guns from shelves

Gun Rights

In this March 1, 2018 photo, a sign for Dick’s Sporting Goods store is displayed at the store in Madison, Miss. (Rogelio V. Solis / AP) Dick’s Sporting Goods Inc., which began scaling back gun sales in the wake of last year’s school shooting in Parkland, Florida, is removing even more weapons from its shelves. The retailer will drop hunting gear starting around August from about 125 stores where it is underperforming, Dick’s Chief Executive Officer Ed Stack announced Tuesday. The change, which affects about 17 percent of the Dick’s chain, follows a trial run last year when Dick’s removed hunting products from 10 of its stores. The announcement, coupled with continuing declines in same-store sales, jarred investors. Dick’s shares fell as much as 11 percent, the most since August 2017, to $34.45 in New York trading. The stock was up 25 percent this year through Monday. Stack said fourth-quarter sales rose at the 10 stores that pulled hunting, and the locations delivered better margins and foot traffic than when they had guns. For the 125 additional stores, hunting floor space “will be replaced by merchandise categories that can drive growth, each based on the needs of that particular market,” Stack said on the company’s earnings call. The new approach follows a tightening of gun policies that Stack self-imposed in February 2018. After the deadly shooting in Parkland, Stack said that he’d stop selling assault-style rifles and high-capacity magazines. He also raised the minimum age for purchasing a gun […]

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