Dick's Sporting Goods reports $ 150 million in lost sales after stopping assault weapons sales
Dick's Sporting Goods & # 39; s bottom line took a huge hit after stopping the sale of weapons in attack mode in response to the Parkland School's massacre.
The policy change cost the nation's largest sports dealer around $ 150 million in lost sales About 1.7 percent of annual revenue, Bloomberg News reported Friday.
But the boss Ed Stack does not complain.
"The system doesn't work," said Stack, according to the news release. "It is important that when you know that something is not working and it is to the detriment of the public, you have to get up."
DICKS SPORTING GOODS LOSER FIREARMS BUSINESSES AFTER GUN CONTROL PUSH ] Parkland's gunman Nikolas Cruz bought a shotgun from Dicks a few months before the attack, leaving 1[ads1]7 dead including a number of students.
Stack also banned the sale of all weapons to anyone under the age of 21.
Nevertheless, gun bans have not affected Dick's share price, Bloomberg reported.
Shares have climbed 14 percent in 13 months since Parkland. Stocks rose a little Friday.
PAWN SHOP TROLLS DICK'S SPORTS PRODUCTS WITH THE INVESTIGATION AR-15
After the ban was announced, the National Rifle Association Stack criticized the "weird business model," according to Bloomberg.
Also the National Shooting Sports Foundation kicked Dick out of the organization. Gun manufacturers liked Mossberg stopped doing business with Dick's.
Those who supported the ban promised to become Dick's customers, but did not hold the course.
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"Love is fleeting. Hate is forever," said Stack.
