Dick’s Stock Soars After Unexpectedly High Earnings Report

By Tom Knighton

Following the shooting in Parkland, Dick’s Sporting Goods did something that angered a whole lot of us. They made a decision to expand their refusal to sell AR-15s to their Field & Stream stores. They also decided they would refuse to sell long guns to anyone under 21 despite federal law permitting sales to 18-year-olds.

Many in the gun community felt that this would amount to suicide for the company and initial signs seemed like that prediction might bear out.

Well, following an announcement from the company, those predictions need to be reviewed.

Dick’s Sporting Goods Inc.’s stock spiked as much as 24 percent — the most ever — after the sports retailer posted results that impressed investors, with higher profit guidance outweighing uncertainty over the company’s vocal stance on guns.

Revenue beat expectations, despite the company’s move to end sales of assault-style rifles in February after a shooting at a Florida high school. Chief Executive Officer Ed Stack has since met with elected officials, spoken publicly about the need to increase regulations and <a target="_blank" title="Dick's Sporting Goods …Read the Rest

Source:: Bearing Arms