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Dick’s Sporting Goods Experiences Plummeting Sales After Gun Policy Change

Dick’s Sporting Goods Experiences Plummeting Sales After Gun Policy Change

Last updated on: March 26, 2018 at 9:07 am by Martha English

Dick’s Sporting Goods Experiences Plummeting Sales After Gun Policy Change 2018-03-26T09:07:10-05:00 Martha English

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Dick’s Sporting Goods recently made an announcement in the aftermath of the Florida school shooting that rocked the nation.

“We at Dick’s Sporting Goods are deeply disturbed and saddened by the tragic events in Parkland,” Edward W. Stack, chairman and CEO of the sporting goods store, wrote. “Our thoughts and prayers are with all of the victims and their loved ones. But thoughts and prayers are not enough.”

He then went on to describe a new store policy that prohibits sales to anyone under the age of twenty-one. (See the rest of the full statement below.)

However, since Stack’s announcement, sales have dropped precipitously. According to National Review:

Dick’s Sporting Goods has suffered a surprisingly steep downturn in sales since promising to sell fewer guns, but the problem isn’t the gun sales, Fortune says. Stock tumbled to the lowest in four months after the sports store banned assault-style weapons from its Field & Stream stores and raised the minimum age for a customer to buy a firearm from 18 to 21. However, the store has also suffered problems with overstocking and high discounts, as well as increased competition from places like Nike and Amazon.

Also, NR reports that “The company’s shares fell 7.3 percent after going up 13 percent this year. Sales failed to hit the projected $2.74 billion, tapering off at $2.66 billion for this quarter.”

Will Dick’s suffer the same fate as the decreasingly popular NFL?

Read the rest of Dick’s Sporting Goods announcement below:

“We have tremendous respect and admiration for the students organizing and making their voices heard regarding gun violence in schools and elsewhere in our country.

“We have heard you. The nation has heard you.

“We support and respect the Second Amendment, and we recognize and appreciate that the vast majority of gun owners in this country are responsible, law-abiding citizens. But we have to help solve the problem that’s in front of us. Gun violence is an epidemic that’s taking the lives of too many people, including the brightest hope for the future of America—our kids.

“Following all of the rules and laws, we sold a shotgun to the Parkland shooter in November of 2017. It was not the gun, nor type of gun, he used in the shooting. But it could have been.

“Clearly this indicates on so many levels that the systems in place are not effective to protect our kids and our citizens.

“We believe it’s time to do something about it.

“Beginning today, Dick’s Sporting Goods is committed to the following:

We will no longer sell assault-style rifles, also referred to as modern sporting rifles. We had already removed them from all Dick’s stores after the Sandy Hook massacre, but we will now remove them from sale at all 35 Field & Stream stores.
We will no longer sell firearms to anyone under 21 years of age.
We will no longer sell high capacity magazines.
We never have and never will sell bump stocks that allow semi-automatic weapons to fire more rapidly.

“At the same time, we implore our elected officials to enact common sense gun reform and pass the following regulations:

Ban assault-style firearms
Raise the minimum age to purchase firearms to 21
Ban high capacity magazines and bump stocks
Require universal background checks that include relevant mental health information and previous interactions with the law
Ensure a complete universal database of those banned from buying firearms
Close the private sale and gun show loophole that waives the necessity of background checks

“We hope others join us in this effort to let our kids know that their pleas are being taken seriously.

“Some will say these steps can’t guarantee tragedies like Parkland will never happen again. They may be correct—but if common sense reform is enacted and even one life is saved, it will have been worth it.

“We deeply believe that this country’s most precious gift is our children. They are our future. We must keep them safe.”

Image Credit: By Fish Cop (Own work) [Public domain], via Wikimedia Commons

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