Dick’s Sporting Goods: $150 million in lost sales after halting assault-weapons sales

Dick’s Sporting Goods’ backside line took a really large hit after halting the sale of assault-style weapons in response to the Parkland college bloodbath.

The coverage change price the nation’s largest sporting items retailer about $150 million in lost sales, about 1.7 % of annual income, Bloomberg News reported Friday. But boss Ed Stack isn’t complaining:

“The system does not work,” Stack mentioned, based on the news outlet. “It’s vital that when you recognize there’s one thing that’s not working, and it’s to the detriment of the general public, it’s important to get up.”

Parkland gunman Nikolas Cruz bought a shotgun from Dick’s a number of months earlier than the assault, which left 17 useless, together with quite a lot of college students.

Stack additionally banned the sale of all weapons to anybody underneath 21.Still, the gun ban hasn’t affected Dick’s inventory value, Bloomberg reported.

Shares have climbed 14 % in the 13 months since Parkland. Shares rose barely Friday.

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