Dick’s first stopped selling “assault-style” firearms in 2012 following the shooting at Sandy Hook Elementary School in Newtown, Connecticut. But soon thereafter, the brand opened a subsidiary, Field & Stream, which did sell the guns in question.
Now, the sporting goods outfit has decided to remove them from shelves altogether and raise the minimum age to purchase a weapon to 21 years old. The store made the decision after the shooting at Marjory Stoneman Douglas High School in Parkland, Florida, where 17 people were killed.
“Some of those customers that buy firearms buy other things also,” Dick’s CEO Edward Stack recently told analysts, MarketWatch reported. “There are just going to be some people who just don’t shop us anymore for anything.”
And that appears to be the case.
Dick’s said it is down among comparable stores when it comes to hunting sales. The Pennsylvania-based brand is expecting that trend to continue.
Shares fell 2.5 percent in midday trading Tuesday when the company reported a comparable-store sales decline of 2 percent in its latest quarter.
But the decline in sales and popularity can’t all be attributed to changes in gun policy, Fortune reported.
Just like the since-shuttered Sports Authority, Dick’s is struggling to remain relevant with competitors like Nike, the world’s largest sports brand, and Amazon. According to Dick’s latest quarterly report, the store is struggling with excess inventory, declining interest, and deep discounting.
Only time will tell how deeply linked the firearm restrictions are to Dick’s declining sales.