The cutback is due to the continued mass shootings..
In the wake of 2 mass shootings at Walmart stores in recent months, the company said Tuesday it plans to discontinue handgun ammunition and all sales of short-barrel rifle ammunition that can be used with military-style assault weapons, CNBC reports.
By the numbers: Walmart estimated that it made up about 2% of the market for firearms, putting it among the “top 3 sellers in the industry,” per CNBC. The company also owns an estimated 20% share of the market for ammunition. Walmart anticipates that market share will drop to of 6%-9% with the new policy in effect.