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The company that owns gun maker Smith & Wesson got hammered by investors Friday after it revealed its earnings plunged 90 percent in the most recent quarter.
The gun run appears to have jammed. In the five...
President - Trump - Congress - Second - Amendment
With President Trump and a Republican-led Congress firmly behind Second Amendment rights, the panic-driven buying that had boosted business during the Obama Administration is no longer goosing sales, according to analysts.
Shares of American Outdoor Brands, which changed its name from Smith & Wesson early this year, saw its shares drop 9.5 percent to $13.51 as it revealed net income in the quarter ended Oct. 31 fell to $3.2 million from $32.5 million a year ago.
Earnings - Call - Market - Close - Thursday
During an earnings call after the market’s close on Thursday, CEO James Debney blamed tough comparisons with a year ago, noting that “personal safety concerns and pre-election fears of increased firearm legislation” had helped generate a record year for gun sales in 2016.
To accommodate last year’s surge in demand for firearms — propelled by worries that then-President Obama or candidate Hillary Clinton would tighten gun laws — the industry stepped up production leading into the election.
Surprise - Victory - Donald - Trump - National
The surprise victory of Donald Trump — a Republican endorsed by the National Rifle Association — has left gunmakers with excess inventories.
“Since then, we have reduced our internal production rates and...
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