Dick’s Sporting Goods (NYSE: DKS) has announced it will remove firearms and other hunting gear from about 125 stores. The change, expected to begin August 1, will affect about 17 percent of the company’s stores.
The announcement, coupled with continuing declines in sales since 2017 (adjusted same-store sales were down 3.1% last year) lead to a 11 percent decline in stock price yesterday. Dick’s closed at $34.45 on the NYSE, down $4.28/share.
Dick’s CEO and major shareholder Ed Stack told the media that if the 125-store move “goes well” the company may remove hunting gear from more stores next year.
According to the Outdoor Wire, Stack was one of four CEOs to sign a letter supporting a gun control bill recently passed in the U.S. House of Representatives. He has also joined the business council of Everytown, the nonprofit organization founded by Michael Bloomberg that advocates for gun control.
It’s more obvious than ever that if you are a law-abiding gun owner and hunter, Dick’s does not want your business. I for one have vowed to never step foot or spend another penny in a Dick’s store again.