Walmart to limit ammunition sales
The largest US retailer reported it would stop selling ammunition for handguns and some assault-style rifles in all its stores across country.
After the changes, its market share will drop to between 6% and 9%
Stocks impacted: Walmart Inc (WMT)
The company also called for action on gun safety after a string of mass shootings, including at Walmart stores in Texas and Mississippi. The halt on the ammunition and handgun sales will come into effect when current inventory is sold out. Previously, the retailer ended sales of assault rifles and raised the minimum age for gun purchases to 21. Walmart is a major player in the U.S. ammunition market with a 20% share. The company sells about $400 million of ammunition a year. After the changes, its market share will drop to between 6% and 9%. Walmart’s stock edged up 0.33% Tuesday to $114.64 a share.
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