Edward Stack, Dick’s CEO, says new gun policy ‘is not going to be positive’ for sales

Dick’s Sporting Goods CEO Edward Stack said Tuesday that the company’s stricter firearms policy will have a negative impact on sales.

Last month, in the wake of the mass school shooting in Parkland, Florida, Dick’s raised the minimum age for all gun purchases to 21 and banned the sales of semi-automatic rifles and high-capacity magazines. Retailers Walmart and Kroger followed suit, sparking a lawsuit by a 20-year-old Oregon man who claimed he was discriminated against due to his age.

Sales at Dick’s fell 2 percent at established stores during the fourth quarter, which was about double the decline that Wall Street was expecting, The Associated Press reported.

Mr. Stack, speaking Tuesday in an earnings call with Wall Street analysts, said it was “too early to tell” the full impact of the new firearms policy, but said sales would undoubtedly suffer.

“The announcement we made two weeks ago is not going to be positive from a traffic and sales standpoint,” he said, Fox Business reported.

“We’ve had some pushback, and we knew that was going to happen,” he added.

Mr. Stack said the company will try to offset the decline by giving more store space to its private-label brands, such as Second Skin workout apparel, AP reported.