The iconic firearms brand Smith & Wesson and their parent company American Outdoor Brands have seen less than desirable sales numbers over the last quarter.
The company is down 25% from the quarter they posted last year at the same time. The company has recently called out social activists for the downfall in their sales.
From CNN Money:
“The company said Wednesday after the close that quarterly sales dropped 25% compared to the fourth quarter of last year, and profit plummeted more than 70%. Sales for the full year were down 33% from the year before, and profit plunged 84%.
In an annual report filed Wednesday with the Securities and Exchange Commission, it blamed “social activists” for their ability to “cause us to incur substantial costs,” including driving down the stock price and “result in consumer boycotts of our products.” The annual report also said the activists could “pressure our financial institutions” to take actions “that are not in the best interests of our company.” Some Wall Street firms have sought to distance themselves from the gun industry.”
While constant coverage from the MSM might have something to do with the dip in sales, it should also be noted that a pro-gun supporter is in the White House.
In past years, many feared former President Obama might succeed in passing anti-gun legislation, and that justified fear drove sales.
With a pro-gun, pro-NRA President in the White House, there is less fear of the 2nd Amendment being tampered with and other gun control legislation being passed.
Only time will tell how Smith & Wesson bounces back from their sales drops. The gun debate won’t be going away anytime soon so it will be interesting to see how the company tries to reach new customers.