Posted on 12/09/2017 5:28:44 AM PST by Oshkalaboomboom
Edited on 12/09/2017 8:16:27 AM PST by Sidebar Moderator. [history]
The company that owns gun maker Smith & Wesson got hammered by investors Friday after it revealed its earnings plunged 90 percent in the most recent quarter.
With President Trump and a Republican-led Congress firmly behind Second Amendment rights, the panic-driven buying that had boosted business during the Obama Administration is no longer goosing sales, according to analysts.
(Excerpt) Read more at nypost.com ...
Stupid company, you had the best name in firearms, Smith & Wesson and you changed it to, no one knows the new name. Dumb, dumb,
These gun manufacturers should have realized that the sales bump was from 8 years salesman of the year, Obama. They needed to prepare for the possibility of a conservative President sales downturn.
Poor management
Slogan: "American Outdoor Brands: We're Ashamed of the Products We Sell!"
The gun proprietary name is still Smith&Wesson. About 20 years ago I believe the corporate name was Omark. Corporations sell divisions and change corporate names. Smart ones keep the name of successful products. S&W is a product name.
Did they ever recover from the damage they did to their brand back when BJ was in the Oval Office?
The market is saturated
"Who's we, sucka?"
"American, Outdoor, Brands, and me."
Nope, just does not have the same ring to it. Why would an American icon change its name?
Asking $1,000 for pistol technology which is >100 years old might have something to do with it.
(I will not have an LGS special order a revolver for me... BTDT, got the t-shirt and lots of bad warranty work memories.)
Mr. niteowl77
I remember it was Lear Seigler back in the 80’s IIRC. Before that it was owned by Bangor-Punta starting in 1965. After Lear it was Forstmann Little and then to Tomkins,
Omark was basically CCI, Speer, RCBS, Weaver, Outers.
These companies change hands like mad.
No, it would have been poor management to not prepare for the sales spike that would have taken place if Clinton won.
They did the right thing.
Every increase is followed by a decline and everyone knew it was coming.
It is not a big deal.
Most firearm shareholders would prefer Trump as POTUS and decline in sales versus Clinton as POTUS.
I agree. Their prices are insane.
I agree. Their prices are insane.
_____________________
Keep a watchful eye out for prices to come down, if management gives a damn for their survivability.
“...in the quarter ended Oct. 31 fell to $3.2 million from $32.5 million a year ago.”
Ho-lee-cow.
BUT, sounds like some deep discounting ahead with the built-up inventory.
Stupid, sloppy reporting. Shareholders own the company. The name change didn’t change the fact it is a PUBLICLY TRADED corporation. American DOES NOT OWN Smith & Wesson, shareholders do.
Solution: DJT encourages the purchase of another gun. Just show the receipt of the last one bought. No waiting period. Throw in a $100 tax break. Infuriate the left. Problem solved. Heh heh.
A problem I see with S&W is the trend of following the market craze and not dancing with the one who brought you to the party. In my opinion their line of semi auto’s made today are not just cheap looking but not as well made or reliable as others who started the polymer and striker fired craze. They started out behind and stayed there. They had two pistols to start with in the Model 39 and the Model 59, neither were perfect but were a good platform to work from. Hard to beat the Smith and Wesson revolvers but I’ll pass on all of the semi autos they make today, there are much better pistols out there.
Excellent. Better prices on the way.
Time to buy soon!
Stock up for the next communist in office.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.