Earlier this year, the sporting goods retailer pulled out of the hunting business at stores, leaving sales in about stores. An announcement about a new gun policy could come Thursday, when the company is set to report quarterly results. Click Here to access the online Public Inspection File.
The store is expected to stop selling hunting equipment along with rifles and ammunition at stores in The sporting goods retailer says it is in response to positive performance in 10 stores where the "hunt" category was replaced by a "more compelling assortment. Not only were the margin rates reportedly better because of the mix, DICK'S reports that traffic went up in the 10 stores that replaced hunting equipment.
A shooting at the high school in Parkland, Florida, had killed 17 people. And the company was shocked into action. Chat with us in Facebook Messenger.
By creating an account, you verify that you are at least 13 years of age, and have read and agree to the PopCulture. After a test run at 10 stores last fall, Dick's Sporting Goods will move to remove all guns and ammunition from stores. Sales grew in the stores where firearms were removedprompting the decision to expand the removal to stores where sales of gun products underperformed.
CEO Ed Stack announced in an earnings call on Tuesday that the chain is expanding its program banning the sale of guns and hunting equipment, from 10 locations to more than He said the stores included in the initial test saw increased sales and higher margins as they allocated the space previously taken up by guns to other merchandise. The store pilot test was first announced by Stack in an earnings call at the end of
A shooting at the high school in Parkland, Florida, had killed 17 people. And the company was shocked into action. So many people in the country are law-abiding citizens who use firearms to hunt, to use from a recreation standpoint.
The sporting goods retailer was forced to confront angry shareholders late last week after its stocks tanked more than 4. Morgan Chase downgraded Dick's shares, from "overweight" to "neutral. Morgan told CNBC.
If the switch is successful, as it was at 10 stores where it was tested starting in the fall, it will be expanded, the company said. The latest move to scale back gun sales is becoming a familiar one for the company and its chief executive, Edward Stack. Last year, after 17 people were killed in a shooting in Parkland, Fla.
More than a year after calls to boycott Dick's Sporting Goods, the retailer announced that profits increased to their strongest showing sinceinformation that could prove important for America's largest retailer, Walmart. Neither Dick's or Walmart have entirely removed gun sales from their stores, but both retailers have made efforts to decrease the purchase of some types of ammunition and firearms. Following the February shooting that killed 17 people in Parkland, Florida, Dick's raised the purchasing age for firearms from 18 to 21 and said it would no longer sell assault weapons, high-capacity magazines and bump stocks in any of its U.
Shares of Dick's Sporting Goods, Inc. The company has been facing margin issues but is making strides in online sales. Analysts expect Dick's Sporting Goods to post earnings per share of 42 cents to 46 cents when the company reports results before the opening bell on Wednesday, May See also: Demand Strong in Sporting Goods.