Dick’s Sporting Goods CEO Edward Stack has taken it upon himself to address the problem of gun-related violence in the United States. Corporate activism is all the rage among the nation’s wealthiest business owners, and Stack has risen as their figurehead.
In a weekend segment by CBS News titled “How companies are reshaping the gun control debate,” Stack admitted to destroying $5 million worth of semi-automatic rifles. GunsAmerica had previously reported Stack’s decision, but the company had not estimated the value of the inventory.
Stack also acknowledged what many have suggested since the CEO began his anti-gun crusade: his company’s bottom line has taken a massive hit.
Stack told CBS’ Lee Cowan that he expected to lose about $250,000,000 when he decided to stop selling all firearms to anyone under the age of 21.
“And how much did you actually lose?” Cowan asked.
“About a quarter of a billion! Pretty close,” Stack replied.
Dick’s CEO decided to stop selling AR-type rifles in its namesake stores after the Sandy Hook massacre in 2012. But after Stack discovered the murderer in the Parkland spree had purchased a shotgun from one of his locations, he decided to pull AR-type rifles and “high capacity” magazines from his Field and Stream stores as well.
“I said, ‘You know what? If we really think these things should be off the street, we need to destroy them,'” he said.
It’s unclear whether Dick’s could have returned the rifles to the manufacturers rather than destroy them, and the company has not returned GunsAmerica’s request for comment.
Now the company is considering removing all guns and ammo from its stores nationwide. CBS reports that Dick’s has removed firearms from 100 of its stores, and Stack would only say that the category is under “strategic review” in the remainder of its locations.
SEE ALSO: Dick’s Pulling Firearms, Hunting Gear from 125 Stores Amid Continued Backlash from Pro-Gunners
The latest FBI data shows that murders committed with rifles fell by 23.8 percent last year, and the total number of rifle-related murders (297) is eclipsed by those committed with knives, fists, and blunt objects. Stack is apparently unconcerned with the FBI’s data, which has consistently shown that rifle-related murders comprise a tiny fraction of all gun-related murders.
He also admitted to CBS that banning AR-type rifles likely won’t stop mass murders.
“So many people say to me, you know, ‘If we do what you want to do, it’s not going to stop these mass shootings,'” said Stack. “And my response is, ‘You’re probably right, it won’t. But if we do these things and it saves one life, don’t you think it’s worth it?'”