Dick's Sporting sees hit from firearm policy changes

(Reuters) - Dick's Sporting Goods Inc <DKS.N>, the U.S. retailer who raised the minimum age to purchase firearms following the massacre at a Florida high school, said on Tuesday it expected the impact from the changes to linger throughout 2018.

The company's shares were down nearly 5 percent at $31.

"The announcement we made 2 weeks ago regarding our firearms policy is not going to be positive from a traffic standpoint and a sales standpoint," Chief Executive Officer Edward Stack said on a post-earnings call with analysts.

Including the impact of the changes to firearms sales policies, the company said it now expected 2018 profit of $2.83 per share and consolidated same-store sales to be flat to a low single-digit decline.

(Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)

03/13/2018 11:18

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