Earlier this week, Dick’s Sporting Goods announced that they would be removing hunting products from 10 of its stores this year. This comes on the heels of reports that second quarter sales at the big-box sporting goods retailer were lower than expected, prompting stock in the company to plummet by more than nine percent.
In the wake of the Parkland shooting, Dick’s announced that it would remove all modern sporting rifles from its shelves, as reported by Forbes. Instead of returning them to their manufacturers or selling them to other retailers, Dick’s opted to destroy the firearms.
In a statement a Dick’s spokesperson said, “We are destroying the firearms in accordance with federal guidelines and regulations.” They also raised the minimum age for gun sales to 21, a move that landed Walmart in hot water recently with the Oregon Bureau of Labor and Industries.
Dick’s says that the faltering sales have little to do their decision regarding modern sporting rifles, instead pinning its losses on Under Armour’s new distribution model, which is aimed to reach more middle-income shoppers by placing its clothing and footwear line in department stores such as Macy’s and Kohl’s. [CNN Money]https://money.cnn.com/2018/08/29/news/companies/dicks-sporting-goods-under-armour-nike-guns/index.html) reports that Dick’s CEO Edward Stack said, "We experienced continued significant declines in Under Armour sales as a result of their decision to expand distribution.”