The Obama years were a great time for the gun business.
But since the election of Donald Trump as president and the resulting decline in fears over increased gun regulation, sales in the industry have plummeted.
On Thursday, shares of gunmaker Sturm, Ruger & Co. (RGR) were down as much as 9% after reporting results Wednesday afternoon that missed expectations. In the second quarter, sales for the company were down 22% against the same period last year while profits fell 53%.
In its earnings release, Sturm, Ruger cited, among other factors weighing on results, “Decreased overall consumer demand in 2017 due to stronger-than-normal demand during most of 2016, likely bolstered by the political campaigns for the November 2016 elections.”
Cabela’s (CAB), an outdoors retailer which sells guns, was also down about 1% on Thursday after it reported second quarter retail store sales declined 6.7%.
“Since the fall election, we have continued to see a slowdown in firearms and shooting related categories,” said Cabela’s CEO Tommy Millner.
Aww, let's all shed a tear for the death merchants.
All those years of scaring their customers into believing that Obama was going to take their shiny metal penis extenders away helped to elect Donald Trump and now they are comfortable that they can kill people that piss them off with impunity.
Which is why the NRA is now apparently attempting to start a civil war.
Yep, everybody needs guns to fight in a war, and the gun manufacturers and gun sellers of America are there to help.
Source http://ift.tt/2vBn2Wd
