by Hanna Bogorowski
Dick’s Sporting Goods’ hunting and electronic departments have been lagging in recent months due to the company’s decision to stop selling assault-style guns as well as any guns or ammunition to customers under 21 years old, leading to a drop in company stock.
Dick’s, one of the country’s leading gun sellers, announced in February that it would no longer sell AR-15 style rifles like the one used in the Parkland, Fla., school shooting and it would no longer sell guns and ammunition to people under the age of 21.
The sporting goods retail company appears to be paying a price for these restrictions, as sales at in-store and online fell 3.9 percent for a three month period that ended Nov. 3, according to The Wall Street Journal.
Weak gun sales hit the hunting and outdoor equipment, specifically, as less hunters are visiting the stores, Lee Belitsky, the company’s chief financial officer, said Wednesday on a conference call with analysts.
“In addition to the strategic decisions we made regarding firearms earlier this year, the broader industry has decelerated and remains weak as evidenced by most recent national background check data,” Belitsky added.
The WSJ report notes that gun sales are also lagging nationwide under President Donald Trump, as gun owners feel comfortable with the fact that they have an ally in the White House, whereas gun sales tend to spike under Democratic leadership, when gun owners anticipate stricter gun control.
While sales may be down, Dick’s reported higher earnings for the quarter, $37.8 million, compared to $37 million in this period in 2017
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