Dick’s Sporting Goods CEO says gun policy is attracting customers, helping boost overall sales

By Aaron Colen

Dick’s Sporting Goods posted better-than-expected first-quarter sales numbers Wednesday, boosting its stock and indicating that it has not yet seen a net negative business impact from the gun policies enacted after the mass murder at a Florida high school in February, Reuters reported.

After the Florida tragedy, Dick’s announced it would no longer sell assault weapons and high-capacity magazines and that it would raise the minimum age for gun purchases to 21 years old.

Chief Executive Officer Edward Stack said while the gun policy has harmed its relationship with firearms manufacturers and put pressure on its hunting business, it has also attracted new customers.

“There’s been a number of people who have started shopping us,” Stack told analysts on a call Wednesday. “They said they’re going to shop us more because of the policy. There’s definitely been some benefit of the people who joined us, so to speak, because of the policy.”

What were the first-quarter sales numbers?

In the three months ending May 5, Dick’s Sporting Goods’ sales totaled $1.91 billion, which exceeded the estimate of $1.88 billion.

Even though overall sales were up, however, same-store sales were down 2.5 percent. Reuters cited colder weather, which could have hurt hunting gear and …Read the Rest

Source:: The Blaze