Dick's destroyed $5 million worth of weapons, says CEO

Customers enter a Dick's Sporting Goods retail location on Nov. 16 2013

He then revealed that on top of the financial losses, Dick's destroyed all of the assault rifles the company had in stock, about $5 million worth.

The company could have resold the guns to another retailer or returned them to the manufacturer, but it didn't, Stack said, according to CBS.

Dick's made the decision to stop carrying the rifles following the mass shooting at Marjory Stoneman Douglas High School in Parkland, Fla., which left 17 dead and reignited the national conversation surrounding gun control.

Stack said the decision to stop selling guns has cost the company almost $250 million.

He made the decision after he found out that one of his stores had sold the Parkland gunman a shotgun, even though it wasn't used in the tragedy.

After the 2012 Sandy Hook Elementary school shooting in Newton, Conn., he said he ordered all the AR-15 semi-automatic rifles to be removed from all the stores across the country. Dick's Sporting Goods Chief Executive Edward Stack discussed the move during a CBS News appearance to promote his new book, "It's How We Play the Game". "But if we do these things and it saves one life, don't you think it's worth it?" "We just didn't want to sell the assault-style weapons that could inflict that kind of damage".

Stack said the guns were turned into scrap metal.

'As a company, we experienced two horrific events in one week, and we will never be the same, ' he said, referring to the El Paso and OH shootings.

Stack also said that many stores have stopped selling firearms all together.

"We thought we'd get a little bit of a backlash, but we didn't expect to get what we got".

"All we were going to do was just take it off the shelf and not say anything", Stack said.

As of now, 125 of Dick's 729 stores no longer sells any type of firearms.

"My response is: 'You're probably right, it won't, '" Stack told CBS. During the interview, Stack talked at length about his evolving approach to the sale of guns, something the company had done for decades before it began to pull back.

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