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Joined: Feb 2020
Posts: 6,904
Campfire Tracker
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OP
Campfire Tracker
Joined: Feb 2020
Posts: 6,904 |
Smith & Wesson sales off by 47% as demand for firearms dropsFirearm manufacturer Smith & Wesson’s sales were down 47% in the most recent quarter, a drop the company blamed Tuesday on inflation, the cost of home heating and rising interest rates. Smith & Wesson reported $121 million in sales Tuesday for the three months that ended Oct. 31. That was a decrease of $109.4 million, or 47.5%, from this time last year when it was $230 million. But last year, pandemic-era buyers were scooping up firearms. Looking before the pandemic, the results announced Tuesday are $7.3 million, or 6.4%, higher than the comparable time period in 2019. Smith & Wesson said it earned $9.6 million, or 21 cents a share in the quarter compared with $50.9 million, or $1.05 a share, in the same time period last year. More here: https://americanmilitarynews.com/2022/12/smith-wesson-sales-off-by-47-as-demand-for-firearms-drops/
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Joined: Jun 2002
Posts: 130,942
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 130,942 |
Money that might have gone to another gun are now going for food, medication, energy, and other essentials, in reaction to massive inflation.
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Joined: Dec 2014
Posts: 8,968
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2014
Posts: 8,968 |
Firearms spending, let's face it, comes from discretionary funding in any household. REAL inflation is around 20% any way you slice it. So considering the stats that say the average household has less than a 1000 in the cookie jar for emergencies...I don't see where most folks have any money to spare.
Well this is a fine pickle we're in, should'a listened to Joe McCarthy and George Orwell I guess.
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Joined: Jan 2004
Posts: 4,545
Campfire Tracker
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Campfire Tracker
Joined: Jan 2004
Posts: 4,545 |
So this is the devious plan by the Ds to achieve gun control - inflation.
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Joined: Apr 2011
Posts: 68,915
Campfire Kahuna
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Campfire Kahuna
Joined: Apr 2011
Posts: 68,915 |
Money that might have gone to another gun are now going for food, medication, energy, and other essentials, in reaction to massive inflation. Yep. Not to mention all the money folks lost in the stock market caused by Lying Hiden Biden’s Administration intentionally destroying America’s Economy. When the Economy is good, folks spend more on recreational “toys”. When Inflation hits 30 to 40 percent, not 8% like the lying POS’s claim, there’s no extra income to spend for non necessities. And many people, the smart ones, anyways, stocked up on Guns, Ammo, and reloading supplies when the DemoRat’s stole the Election, and installed the Puppet Pedo Joe. And others stocked up on weaponry when the Scamdemic hit.
"Allways speak the truth and you will never have to remember what you said before..." Sam Houston Texans, "We say Grace, We Say Mam, If You Don't Like it, We Don't Give a Damn!"
~Molɔ̀ːn Labé Skýla~
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Joined: Aug 2010
Posts: 27,385
Campfire Ranger
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Campfire Ranger
Joined: Aug 2010
Posts: 27,385 |
Money that might have gone to another gun are now going for food, medication, energy, and other essentials, in reaction to massive inflation.
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Joined: Nov 2013
Posts: 28,522
Campfire Ranger
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Campfire Ranger
Joined: Nov 2013
Posts: 28,522 |
I can believe that. Sold a few myself this past year, and interest was soft, often limited to guys wanting to avoid required paperwork. Finally resorted to having my LGS put the last one on GB, where it yielded my asking price even after the commission, and no more time wasted on phone calls from window-shoppers.
What fresh Hell is this?
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Joined: Aug 2010
Posts: 27,385
Campfire Ranger
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Campfire Ranger
Joined: Aug 2010
Posts: 27,385 |
Money that might have gone to another gun are now going for food, medication, energy, and other essentials, in reaction to massive inflation. Yep. Not to mention all the money folks lost in the stock market caused by Lying Hiden Biden’s Administration intentionally destroying America’s Economy. When the Economy is good, folks spend more on recreational “toys”. When Inflation hits 30 to 40 percent, not 8% like the lying POS’s claim, there’s no extra income to spend for non necessities. And many people, the smart ones, anyways, stocked up on Guns, Ammo, and reloading supplies when the DemoRat’s stole the Election, and installed the Puppet Pedo Joe. And others stocked up on weaponry when the Scamdemic hit. You’re really gonna show them all by constant Internet whining.
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Joined: Apr 2006
Posts: 9,399
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2006
Posts: 9,399 |
Firearms spending, let's face it, comes from discretionary funding in any household. REAL inflation is around 20% any way you slice it. So considering the stats that say the average household has less than a 1000 in the cookie jar for emergencies...I don't see where most folks have any money to spare. Used gun shelves are slowly beginning to fill back up @ local shops and at prices that are beginning to re-enter earth's atmosphere as well. Shops are also starting to mark down excess/slow-moving ammo that was "What they could get" in favor of now "What people WANT".
I can walk on water.......................but I do stagger a bit on alcohol.
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Joined: Aug 2004
Posts: 69,484
Campfire Kahuna
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Campfire Kahuna
Joined: Aug 2004
Posts: 69,484 |
Reckon sales had much to do with stimulus checks?
Now there is no stimulus checks, and the inflation that follows.
Molɔ̀ːn Labé Skýla!
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Joined: Jul 2013
Posts: 9,189
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2013
Posts: 9,189 |
Food and fuel prices have nearly completely absorbed my budget for all things firearm-related. Have had to shift my priorities around. I'm sure a lot of us are in the same boat.
I belong on eroding granite, among the pines.
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Joined: Feb 2008
Posts: 8,285
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2008
Posts: 8,285 |
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Joined: Jan 2015
Posts: 2,666
Campfire Regular
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Campfire Regular
Joined: Jan 2015
Posts: 2,666 |
Could be that the market has become somewhat saturated. The first-time buyers of the past few years aren't like a lot of us who tend to accumulate firearms. Once they have what they think they need, they're done.
The biggest problem our country has is not systemic racism, it's systemic stupidity.
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Joined: Jun 2011
Posts: 3,699
Campfire Tracker
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Campfire Tracker
Joined: Jun 2011
Posts: 3,699 |
Well, I did my part in that quarter.
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Joined: Feb 2011
Posts: 6,314
Campfire Tracker
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Campfire Tracker
Joined: Feb 2011
Posts: 6,314 |
Inflation has a lot to do with it, but other factors are limiting purchases too. The manufacturers themselves should be to blame for some of it.
The market is somewhat stagnant. The lack of product innovation is taking its toll. Consumers are begging for new quality product and it’s falling on deaf ears. In Smith’s case, there are still some revolvers in demand and the debacle with Thompson Center left a hole in their portfolio. Guys are simply growing weary of the same old commodity firearms - plastic pistols, plastic rifles….everything that’s shipping regularly is a “budget” gun. Those guns will always have their place, but can’t consume the market.
Without new innovations and upper end offerings, shoppers are fatigued. They’re not churning and trading for the latest and greatest. The rifle market is really lacking, as is the shotgun market. Hardly anything upper end available in mass quantities from Beretta, Benelli, Winchester, Browning, Remington, Kimber…the list goes on. And upper end is now defined as models that were previously available as standard offerings. Stainless rifles, wood stocked rifles, wood stocked shotguns are all slow to ship.
It’s a different time and the manufacturers own a bunch of that blame. I don’t feel sorry for them. Publicly traded companies are slow to react because of all the hoops. Too many levels of approval and individuals trying to justify their jobs. If they spent more time building what the consumer wanted instead of building what they wanted to build, things might be a little different.
I’m home with flu and bored. I’m also tired of manufacturers not owning the blame for a soft market.
I enjoy handguns and I really like shotguns,...but I love rifles!
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Joined: Feb 2008
Posts: 8,285
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2008
Posts: 8,285 |
Well, I did my part in that quarter. Ah now you did it ..
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Joined: Jan 2008
Posts: 15,698
Campfire Ranger
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Campfire Ranger
Joined: Jan 2008
Posts: 15,698 |
Yep they fell in love with the profit margin of the plastic fantastics.
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Joined: Apr 2008
Posts: 10,936
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2008
Posts: 10,936 |
Inflation has a lot to do with it, but other factors are limiting purchases too. The manufacturers themselves should be to blame for some of it.
The market is somewhat stagnant. The lack of product innovation is taking its toll. Consumers are begging for new quality product and it’s falling on deaf ears. In Smith’s case, there are still some revolvers in demand and the debacle with Thompson Center left a hole in their portfolio. Guys are simply growing weary of the same old commodity firearms - plastic pistols, plastic rifles….everything that’s shipping regularly is a “budget” gun. Those guns will always have their place, but can’t consume the market.
Without new innovations and upper end offerings, shoppers are fatigued. They’re not churning and trading for the latest and greatest. The rifle market is really lacking, as is the shotgun market. Hardly anything upper end available in mass quantities from Beretta, Benelli, Winchester, Browning, Remington, Kimber…the list goes on. And upper end is now defined as models that were previously available as standard offerings. Stainless rifles, wood stocked rifles, wood stocked shotguns are all slow to ship.
It’s a different time and the manufacturers own a bunch of that blame. I don’t feel sorry for them. Publicly traded companies are slow to react because of all the hoops. Too many levels of approval and individuals trying to justify their jobs. If they spent more time building what the consumer wanted instead of building what they wanted to build, things might be a little different.
I’m home with flu and bored. I’m also tired of manufacturers not owning the blame for a soft market. Great insight, rest up and get well..
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Joined: Jan 2012
Posts: 26,251
Campfire Ranger
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Campfire Ranger
Joined: Jan 2012
Posts: 26,251 |
2021 #'s were a result of what transpired through late 2020
RIOTS EVERYWHERE
Many people were scared, went and purchased their first firearm.
FJB & FJT
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Joined: Dec 2006
Posts: 2,008
Campfire Regular
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Campfire Regular
Joined: Dec 2006
Posts: 2,008 |
Food and fuel prices have nearly completely absorbed my budget for all things firearm-related. Have had to shift my priorities around. I'm sure a lot of us are in the same boat. Mine too! I'm trying like hell to live on my Navy retirement as opposed to drawing money out of our IRAs because it's taking a loss every withdrawal.
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