Published: Wed, October 09, 2019
Markets | By Otis Pena

Million Assault Rifles Destroyed by Dick's Sporting Goods, CEO Says

Million Assault Rifles Destroyed by Dick's Sporting Goods, CEO Says

Making the rounds with the press to support his new book, Ed Stack, Dick's Sporting Goods' CEO, is earning wide attention for saying the retailer destroyed more than $5 million worth of assault-style rifles following its decision to stop selling the weapons.

In an interview with CBS News released Sunday, Stack explained that since Dick's stopped selling guns to customers under the age of 21 as part of what the outlet called the firm's "stand against guns", the company has lost roughly $250 million. After the February 14, 2018, mass killing at Marjory Stoneman Douglas High School in Parkland, Fla., the company ceased selling guns to anyone under the age of 21, a step that Stack told CBS had cost the company about a quarter of a billion dollars.

Stack told CBS that the move to restrict gun sales cost the company about a quarter billion dollars.

Even though it wasn't the weapon used in the shooting, that largely impacted the company's actions.

"If we really think these things should be off the street, then we need to destroy them", Stack said in the interview.

But, the CEO for Dick's Sporting Goods, Ed Stack, said they still needed to figure out what they wanted to do with their remaining inventory. "But if we do these things and it saves one life, don't you think it's worth it?" Stack said the retailer is considering extending pulling guns from all stores.

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"We thought we'd get a little bit of a backlash, but we didn't expect to get what we got".

'As a company, we experienced two horrific events in one week, and we will never be the same, ' he said, referring to the El Paso and OH shootings.

Earlier this year, the company announced that they would no longer sale hunting weapons in 125 stores after a 10-store test showed positive results.

"My response is: 'You're probably right, it won't, '" Stack told CBS.

Stack's new policy decisions received praise from Democratic presidential candidate Beto O'Rourke on Monday, who tweeted that the company is doing more to keep America safe from gun violence than Congress.

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