Last month, Dick’s Sporting Goods made headlines by announcing they would no longer sell so-called “assault-style” weapons and high-capacity magazines.
Now? Their sales are plunging.
Sales for the company’s first quarter of 2018 fell almost $100 million short of expectation. They had projected sales of $2.74 billion, but only hit $2.66 billion.
“There’s going to be some pushback and we expected that,” admitted Dick’s CEO Edward Stack, during a call with Wall Street analysts, regarding the controversial gun ban. “There are going to be the people who don’t shop us anymore for anything.”
Dick’s implemented the new gun policy after it was revealed that Lakeland, Florida, shooter Nikolas Cruz purchased his gun legally at a Dick’s Sporting goods.
“Thoughts and prayers are not enough,” the company said, shortly after the shooting, when explaining their new policy. “We support and respect the Second Amendment, and we recognize and appreciate that the vast majority of gun owners in this country are responsible, law-abiding citizens. But we have to help solve the problem that’s in front of us.”