Will Dick’s Sporting Goods Be Hurt by a Gun Owners’ Boycott?

Will Dick's Sporting Goods Be Hurt by a Gun Owners' Boycott?

Dick’s Sporting Goods ( NYSE:DKS ) has made a number of decisions since February’s school shooting in Parkland, Florida that some investors may question as to whether or not they’re in the company’s best interests. Following the tragedy, Dick’s initiated several policies: Halting sales of certain semi-automatic firearms (modern sporting rifles, or MSRs) at its 35 Field & Stream stores (it previously stopped selling MSRs at its Dick’s stores after the Sandy Hook shootings in Connecticut). Raising the minimum age to buy a firearm from 18 to 21. Stopping the sale of high-capacity magazines. Saying it would destroy rather than sell the remaining MSRs in its inventory. Hiring new Washington lobbyists to actively push for gun control. CEO Ed Stack recently said he was a gun owner himself and supported the Second Amendment while acknowledging "the vast majority of gun owners in this country are responsible, law-abiding citizens." Nonetheless, the company’s actions angered many gun owners who have vowed to boycott the chain. The National Shooting Sports Foundation also voted unanimously to expel Dick’s from membership in the industry trade group for "conduct detrimental" to the organization. Dick’s Sporting Goods recent decisions on gun sales may not harm the company as much as some think. Image source: Getty Images. Why are results hurting? While gun owners and the industry are obviously upset by Dick’s decisions, the moves were praised by others and emulated by retailers, including Walmart and Kroger , which also raised the purchasing age for firearms (Walmart […]

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