Remington Outdoor Company feeling the Trump slump

By Daniel Terrill

The entrance to the Remington Outdoor Company booth at SHOT Show 2017. (Photo: Daniel Terrill/Guns.com)
Executives with Remington Outdoor Company, which owns a host of gun and ammo brands, attributed the company’s 31 percent decrease in third quarter sales to soft market conditions resulting from last year’s surprising election victory by President Trump.
Remington reported a $16 million loss for its third quarter, which saw $154.1 million in sales, some $68 million less than the year before, according to company financial filings. Eight months into the year, revenue has fallen by $177 million, putting the company at a $60.5 million loss.
“In this environment, with reduced sales visibility, I’m looking forward to the end of 2017,” said James Geisler, executive chairman of Remington’s board, in a prepared statement during last week’s conference call with investors.
National trends have been less severe with gun sales dropping 16 percent for the quarter and trailing 2016 — the biggest year on record — by 12 percent. But the gun industry as a whole overproduced leading up to last year’s presidential election, where pro-gun control candidate Hillary Clinton was predicted to win. With clogged and overflowing inventory channels, gun makers including Remington turned to discounting and rebates to

Source: Guns.com