The percentage of American Brands’ assault-style rifle sales at Dick’s “will be extremely modest,” Debny said. “the item’s actually one-tenth of one percentage point of our total sales. So there isn’t definitely any impact as well as of course anything like of which will be obviously built into our guidance going forward.”
When asked what the impact will be on the gun market if more companies follow in Dicks’ footsteps, Debny said, “Well definitely of which could just be pure speculation right today… I don’t want to speculate.”
Debny said the company has observed a minor uptick in gun sales at retailers after the Feb. 14 mass shooting in Florida, in line with prior tragedies, as gun users are concerned of which legislation may be passed of which could not allow them to buy guns inside future.
“The only reports of which we’ve heard are of some increased foot traffic in firearms retailers as well as of which will be translating into some level of increased sales,” he said.
The Feb. 14 shooting at Marjory Stoneman Douglas High School Yet again sparked a national debate about gun control as well as future regulations of which could put downward pressure on gun sales. The gunman used an AR-15 assault rifle of which he legally purchased, authorities have said.
In its third quarter earnings Discharge, Debney said there’s less demand for firearms as well as of which the company believes of which “may continue for some time.”
Shares of American Outdoor tanked after the company reported a large year-over-year sales decline as well as gave dismal guidance. The stock was halted at about 4 p.m. ET prior to the announcement. the item reopened 20 percent lower at 4:35 p.m. ET. Shares of American Outdoor fell as much as 26 percent in after-hours trade.
American Outdoor said its sales fell 32.6 percent year over year in its fiscal third quarter. The company said its results reflect a “continuation of challenging market conditions inside consumer market for firearms.”
For the current quarter, American Outdoor said the item expects adjusted earnings between 9 cents as well as 11 cents per share on revenue between $162 million as well as $166 million.
Wall Street had previously projected fiscal fourth-quarter earnings of 38 cents on $205.6 million in revenue, according to Thomson Reuters consensus estimates.
American Outdoor shares have shed more than 50 percent inside past 12 months. The stock set a fresh 52-week intraday low of $8.87 on Wednesday.
-CNBC’s Christine Wang contributed to of which report.