Dick's Sporting Goods Sales Skyrocket, Stock Rises After Banning Gun Sales
Shares of Dick’s Sporting Goods soared on Wednesday after reports the company’s first-quarter earnings exceeded expectations, shutting down investors’ fears that its new restrictions on gun sales would hurt profits, CNBC reports. The sports store’s shares surged by 23 percent when markets opened on Wednesday, as last quarter’s $1.91 billion in sales toppled estimates from last year, which had projected $1.88 billion, according to CNBC.
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