At Galyan's I know that new guns lost money in my department (guns, archery, fishing). We made decent money on archery and good money on fishing gear and accessories (gun cases, holsters, cleaning supplies, black powder gear, etc.).
We made an enormous amount on clothing, boots and shoes.
(for instance, a mgr. at an Indy shop said on here the other day that $499 for a brand new M&P, as being offered to another INGO'er direct from S&W, was below wholesale)