Smith & Wesson Posts Better Than Expected Earnings For Second Quarter
By Tom Knighton
Is there anything better than finding out you made more money than you thought you were going to make? You look at your pay stub and see that you made a bit more than you were expecting, it’s a great feeling. It really is.
It’s better when you’re a publicly traded company.
Stronger gun sales and growth in knives, optics and other accessories propelled American Outdoor Brands in its fiscal second quarter, igniting a sharp rally in the company’s shares late Thursday.
The owner of gun maker Smith & Wesson posted better than expected earnings and revenue for the period. Both the firearms and outdoor products businesses saw revenue and profitability improve, with the gun segment boosted by “bundle” promotions booked earlier in the year and shipped during the quarter, according to chief executive James Debney.
“Sales growth occurred in both our Hunting & Shooting product categories, as well as our Cutlery & Tool product categories, and came from a variety of retailers, particularly our online retailers,” Mr Debney added.
Gun sales in the US have softened since the election of President Donald Trump. Consumer demand for handguns and rifles typically peaks under Democratic presidents, when buyers see greater odds that lawmakers …Read the Rest
Source:: Bearing Arms