Kroger's Fred Meyer plans to phase out firearms business
Earlier this month, Kroger joined other U.S. retailers such as Walmart Inc
Fred Meyer said it was working on plans to phase out sales of firearms and ammunition.
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"This is a victory for communities and for common sense. And it`s a positive step for our pension fund beneficiaries and for public safety," New York City Comptroller Scott Stringer, who oversees the city`s public pension funds, said in a statement. Stringer said he had called for Kroger to cease selling firearms last year.
Several large money management firms that own shares in gun makers, including BlackRock Inc
Fred Meyer said the firearm business generated about $7 million annually, while it also highlighted "softening consumer demand."
Fred Meyer operates 133 stores in Alaska, Idaho, Oregon and Washington and sells firearms in 43 of them.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)