Economy & Business

Dick’s Sporting Goods Sales Sink After New Gun Policy

Rifles are displayed for sale at the Guntoberfest gun show in Oaks, Pennsylvania (Joshua Roberts/Reuters)

Dick’s Sporting Goods has suffered a surprisingly steep downturn in sales since promising to sell fewer guns, but the problem isn’t the gun sales, Fortune says.

Stock tumbled to the lowest in four months after the sports store banned assault-style weapons from its Field & Stream stores and raised the minimum age for a customer to buy a firearm from 18 to 21.

However, the store has also suffered problems with overstocking and high discounts, as well as increased competition from places like Nike and Amazon.

After the Parkland school shooting last month that killed 17, Dick’s executives were aghast to learn that the young gunman had bought one of his many guns from them, though not the one he used in the shooting.

As a sign of solidarity with the student protesters calling for gun control laws, Dick’s announced it would no longer sell assault-style firearms and high-capacity magazines.

The athletic gear company instituted a similar ban after the 2012 Sandy Hook shooting but rescinded it a few months later by introducing assault weapons to its Field & Stream stores. This time the ban is permanent, Dick’s says.

“Thoughts and prayers are not enough,” the company said in a statement. “We support and respect the Second Amendment, and we recognize and appreciate that the vast majority of gun owners in this country are responsible, law-abiding citizens. But we have to help solve the problem that’s in front of us.”

“There’s going to be some pushback and we expected that,” said CEO Edward Stack, in an earnings call with Wall Street analysts, according to CNN. “There are going to be the people who don’t shop us anymore for anything.”

The decision is “not going to be positive from a traffic standpoint and a sales standpoint,” Stack predicted.

The company’s shares fell 7.3 percent after going up 13 percent this year. Sales failed to hit the projected $2.74 billion, tapering off at $2.66 billion for this quarter.

Dick’s still plans to open 19 new stores this year and hopes it will boost their brand.

Most Popular

Immigration

The Truth about Separating Kids

The latest furor over Trump immigration policy involves the separation of children from parents at the border. As usual, the outrage obscures more than it illuminates, so it’s worth walking through what’s happening here. For the longest time, illegal immigration was driven by single males from Mexico. ... Read More
Culture

Krauthammer’s Take on Life

Dear Reader (And members of the Remnant everywhere), My plan was to do something new this week: Write a “news”letter in which the number and ratio of consonants to vowels in each word advanced in accordance with the Fibonacci sequence until, like a pointillist painting, seen from afar this “news”letter ... Read More
Politics & Policy

Time Stands by Misleading Cover Photo

Time magazine on Friday defended its decision to feature a photo of a crying toddler who was never separated from her mother on the cover of its July issue detailing family separations at the border. “The June 12 photograph of the 2-year-old Honduran girl became the most visible symbol of the ongoing ... Read More
World

Kim Wins in Singapore

The remarkable truth about the “North Korean nuclear crisis” is that the Democratic People’s Republic of Korea -- a tiny, isolated, and impoverished state -- has been almost completely in charge of it since the global drama erupted almost three decades ago. The DPRK has determined both the tempo of events ... Read More
PC Culture

When PC Comes Back to Bite You

Political correctness run amok is a popular topic on the right these days. Indeed, the conservative bookshelf is chock full of best-sellers devoted to the topic. Subject matters vary. One may focus on the hypocrisy of campus speech codes, another on the revisionist attempt to indict our founding fathers, yet ... Read More