A gun display at Dick's in Paramus, New Jersey. Photo: Victor J. Blue / Bloomberg via Getty Images

Dick's Sporting Goods will stop selling assault-style rifles, end the sale of high-capacity magazines, and stop selling guns to customers under the age of 21, CEO Ed Stack said in a Wednesday interview with ABC's Good Morning America.

“When we saw what happened in Parkland, we were so disturbed and upset … We love these kids and their rallying cry, ‘enough is enough.’ It got to us … We’re going to take a stand and step up and tell people our view and, hopefully, bring people along into the conversation.”
— Stack to the N.Y. Times

One thing to watch with companies cutting gun ties is how long it lasts, Axios' Dan Primack notes. After Sandy Hook, for example, Dick's Sporting Goods pulled assault-style rifles from its shelves. But a few months later they re-appeared at the company's outdoor and hunting retail chain, Field & Stream.

  • Stack told ABC the changes at Dick's will be permanent this time.
  • Parkland shooter Nikolas Cruz bought a shotgun from a Dick's in November 2017. It was not the weapon he used to kill 17 students and teachers at Stoneman Douglas High School, but the purchase motivated the company to take action.
  • “[I]t came to us that we could have been a part of this story,’’ he told ABC. “We said, ‘We don’t want to be a part of this any longer."

Go deeper: Companies face pressure on guns in the wake of the Parkland shooting

Go deeper

Scoop: Instacart raises another $100 million

Illustration: Sarah Grillo/Axios Visuals

Grocery delivery company Instacart has raised $100 million in new funding, on top of the $225 million it announced last month, the company tells Axios. This brings its valuation to $13.8 billion.

Why it matters: This funding comes at what could be an inflection point for Instacart, as customers it acquired during coronavirus lockdowns decide whether they want to continue with the service or resume in-person grocery shopping.

Updated 23 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 10,902,347 — Total deaths: 521,940 — Total recoveries — 5,777,662Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 2,739,879 — Total deaths: 128,740 — Total recoveries: 781,970 — Total tested: 33,462,181Map.
  3. Public health: The states where face coverings are mandatory Regeneron stops trial after drug fails to help patientsWhat we know about the coronavirus immune response — Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  6. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  7. States: Texas mandates face masks in public spaces Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.

Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.