Dick's Sporting Goods said Tuesday that it's removing guns from 125 of its stores, further cutting back from the category after the Parkland, Florida, school shooting led to policy changes at the company.
Dick's made headlines in 2018 when, in the aftermath of the massacre at Marjory Stoneman Douglas High School, it banned the sale of assault-style rifles and the sale of all guns to anyone under 21. In previous remarks, he has said the decision impacted overall sales past year.
The hunting-merchandise announcement came after the reported a dip in fourth-quarter sales and a soft profit forecast that sent Dick's stock tumbling more than 10 percent. But were down 3.7% on an unshifted calendar basis.
It was not immediately clear which stores would be affected, but Stack said firearms will be removed "in markets where the hunting category underperforms", according to The Wall Street Journal. The retailer will fill the resulting open floor space with activewear, athletic footwear and sports gear.
The company stopped selling guns in 10 stores a year ago to test how they perform and has now chose to remove firearms from 125 additional stores after seeing positive sales.
The retailer will drop hunting gear starting around August from about 125 stores where it is underperforming, Dick's CEO Ed Stack announced Tuesday.More news: Novak Djokovic stunned by Kohlschreiber, 35, is keen to 'turn the page'
More news: San Diegans indicted in nationwide college admissions scandal
More news: Google's Gmail, Drive, YouTube and some other services suffer global outage
It reported net income of net income of $102.6 million, or $1.07 a share.
Adjusted online sales for the fourth increased approximately 17%. Shares in the sporting goods store fell 11.2 percent in Tuesday trading to close at $34.61.
Dick's expects full-year earnings to be $3.15 to $3.35 per share.
As of February 2, 2019, the company operated 729 Dick's Sporting Goods stores in 47 states, 94 Golf Galaxy stores in 32 states, and 35 Field & Stream stores in 16 states. The company will remove guns where the hunting merchandise doesn't perform well. But the company is challenged on other fronts as well.
The Coraopolis, Pennsylvania-based company posted revenue of $2.49 billion in the period, exceeding Street forecasts.