Dick’s Sporting Goods To Remove Firearms And Hunting Gear From 125 Stores
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 [...]