Source: CUZZ BLUE
What are the details?
The outlet reported that the sporting goods retailer — which stopped selling “assault-style” rifles in the wake of the 2018 mass killing at Marjory Stoneman Douglas High School in Parkland, Florida — may stop selling guns altogether.The retailer then ceased gun sales in more than 125 stores in March, a year following the deadly massacre, which took the lives of 17 people, and injured many more, and raised the age for firearm sales from 18 to 21.CNN reported that Dick’s is “quietly testing the water on whether to pull out entirely from what it calls the ‘hunt’ business, including firearms.” Results of the “testing” is reportedly forthcoming on Thursday, upon which time the company is expected to report quarterly earnings results.
What did the CEO say?
Dick’s CEO Edward Stack told CNN earlier in 2018 that the company did consider stopping all gun sales in the early part of the year.”We did have a conversation about [stopping all gun sales],” Stack told the outlet. “At the time, we felt it was a part of our DNA and we should stay in it. So many people in the country are law-abiding citizens who use firearms to hunt, to use from a recreation standpoint. We didn’t think it was right to exit the business completely.”The 2018 announcements on the company’s decision to restrict guns sent its relationships with gun manufacturers down the tube, Stack admitted in a May 2018 conference call.”There’s been a number of people who have started shopping us,” Stack told analysts on the call. “They said they’re going to shop us more because of the policy. There’s definitely been some benefit of the people who joined us, so to speak, because of the policy.”He added, “We don’t have the best relationship with the firearms manufacturers right now.”
CNN reported that Dick’s declined to comment on the testing, or its results, ahead of Thursday’s earnings announcement.