Dick's CEO says the company destroyed $ 5 million in assault rifle

The CEO of Dick's Sporting Goods says that after the company made the decision to no longer sell assault-style rifles, more than $ 5 million worth of weapons were destroyed.

In an interview with CBS News that aired on Sunday, Ed Stack said after last year's decision to stop offering assault rifles, and the question of what to do with the remaining inventory.

"I said," You know what? If we really think these things should be off the street "Parkland, Fla., Which left 17 dead and ruled the national conversation around gun control.

" We found out we sold this boy a shotgun, "Stack said." That's when I said, "We're done." a gun. [1[ads1]9659002] Stack added that the decisions cost the company approximately $ 250 million in lost sales.

While Dick's saw a loss in immediate sales, the stock increased in the year following its announcement.

Currently 125 of Dick's 729 stores no longer sells weapons of any kind, Stack said he is considering expanding that policy as well.