Dick’s to halt sales of rifles, ammo at 125 of its stores

Dick’s Sporting Goods will remove guns from 125 stores amid slumping sales

Dick's Sporting Goods will stop selling firearms at some of its stores in another move to tighten its policies surrounding firearms sales.

The hunting gear will be removed this year from 125 additional stores where it does not sell well, he said. The change, which affects about 17 percent of the Dick's chain, follows a trial run previous year when Dick's removed hunting products from 10 of its stores. "For 2018, we delivered earnings near the high end of our expectations, which represents an 8% increase over a year ago". The fourth quarter, including the holiday season, saw a drop of 2.2 percent in same-store sales.

It reported net income of net income of $102.6 million, or $1.07 a share.

The Pennsylvania-based outdoor and sporting goods chain removed guns and hunting items from 10 stores past year as part of a trial.

It sales at stores opened at least a year - a key measure for retailers - fell 2.2 percent. That was down from $116 million, or $1.11 a share, a year earlier.

Last year Dick's announced it would ban sales of assault-style weapons after it was revealed the school shooter in Parkland, Florida had bought a gun from a Dick's.

The company's 2018 revenue was down nearly 2 percent to $8.4 billion, a dip that Stack has attributed to slower firearm sales, a change in Under Armour Inc.'s distribution strategy and weak performance in electronics sales. Seven analysts surveyed by Zacks expected $2.48 billion.

Analyst Neil Saunders, managing director of GlobalData Retail, commented that his data show that a lot of hunters and gun enthusiasts have migrated to retailers like Bass Pro and to smaller specialists in the wake of Dick's firearms decision, which has had an adverse impact on sales.

Dick's also said it's planning to enhance store experiences and focus on online sales.

Related:

Comments

Latest news

Nine dead, including five children, in Brazil shooting; 17 others also shot
Sao Paulo state authorities say eight people have been killed in a school shooting in Brazil, including two student shooters. Students gathered outside the school recounted harrowing attacks and seeing several bodies lying in pools of blood.

Restaurant app aims to help conservatives find 'safe' eateries
Ted Cruz (R), was also chased out of a D.C. restaurant by unruly protesters during the confirmation hearings for Supreme Court Justice Brett Kavanaugh.

Lady Gaga shuts down pregnancy rumours with album news
The insider said: "He is an honest guy and who is in a relationship and everyone has gotten very carried away with the gossip". Yes, people saw love and guess what? "That's what we wanted you to see", Gaga said to dismiss the dating rumor.

Paul Manafort indicted on new fraud charges in NY
I ask that you think of this and our need for each other as you deliberate today. "For these mistakes, I am remorseful". Manafort appeared in a Washington, DC courtroom in a wheelchair on Wednesday, asking the judge for leniency.

Djokovic, Nishikori, Halep ousted at Indian Wells
Instead, the victory marked Kohlschreiber's first win over a No. 1 player and he will meet Gael Monfils in the fourth round. He will play 19-year-old Canadian Denis Shapovalov , the 24th seed who beat 10th-seeded Croatian Marin Cilic 6-4, 6-2.

Other news