Dick's Sporting Goods announced Tuesday it will stop selling firearms at more than 100 of its stores. The concept was tested in 10 stores past year.
Executives at the sporting goods store said on a conference call that the company will stop the sale of firearms in 125 of its stores, The Wall Street Journal reported.The company tested the concept in 10 of its stores in the past year.
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The announcement, coupled with continuing declines in same-store sales, jarred investors. The company's stock was down about 10 percent on Tuesday morning.
The list of stores has not been released, but it will likely happen at locations that are not doing well.
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The retailer will replace the underperforming hunting supplies category in another 125 stores in 2019 with more in-demand merchandise, Stack said. The move follows the company's ban on assault-style weapons past year in the wake of the Parkland shooting. It put restrictions on ammunition sales and discontinued the sale of military-style semi-automatic rifles and high-capacity magazines.
The company reported a 3.7 percent fall in comparable sales in the fourth-quarter ended February 2, hit by weakness in its hunting and electronics categories.
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Last month, Stack was one of four CEOs to sign a letter supporting a universal gun control bill that recently passed in the U.S. House of Representatives, and he recently joined the business council of Everytown, a nonprofit that advocates for gun control.