Posted on 11/24/2017 6:31:02 PM PST by Mariner
Remington Outdoor, the second-largest U.S. gunmaker has suffered a “rapid” and “sharp” deterioration in sales and a similar drop in profits since January, and faces “continued softness in consumer demand for firearms,” credit analysts at Standard & Poor’s Global Ratings said in a report Friday.
S&P as a result has cut the company’s corporate credit rating — already at a junk-bond-level CCC+ — two full notches, to CCC-, a move likely to make the company’s high-yield debt less attractive to investors and lenders, and force Remington to pay more in interest. The company could face a change in control, bankruptcy, or default on its debt by next year.
A backlog of unsold, unwanted firearms will force Remington to operate at a loss and “pressure the company’s sales and profitability at least through early 2018, resulting in insufficient cash flow for debt service and fixed charges,” unless Remington gives up cash to pay for ongoing operations, S&P adds.
(Excerpt) Read more at philly.com ...
You've been wantin' that one for decades. You know it's true.
And Grandad's old 870 is a mighty fine shooter, but it looks like crap now and the ejector claw getting a round edge.
Remington is a very fine arms manufacturer. They make the sporting arms we grew up with. The new versions are even better based on the 700 in .270 I examined at Cabelas.
These are very fine arms and those who can, should help this company survive.
I have enough guns. Now the price of ammo needs to come down so I can stock up.
They should sell in Eastern Europe, like Poland and Hungary. Eastern Europe needs a second amendment culture, because Western Europe isn’t going to do a thing if Russia decides to expand, but Russia would never go into Eastern Europe if everyone had a rifle.
Remington continues to make some classics like the 700 and 870 but also they've made some questionable pieces, at least so I've heard.
Bargain on an R51, anybody?
they want to sell? Lower the damn prices.
Can I get a new model 742 at a reduced price?
Obama pushed everyone to fill their gun safes pronto. Now that the gun safes are full I’m not going to buy any more guns until the barrels wear out on the ones I have or the receivers start breaking down.
Remington needs to downsize to the demand just like all businesses have to respond to the demand.
So many guns were bought during Obama and in the run up to the election, that most people have about everything they want already, and feel safe until 2020.
Have you seen the price of a new Winchester lately?
Browning and Seka too.
Of course you could buy a lesser Ruger if you must.
Great guns, no artistic value.
If anyone is looking for a 1911 style pistol, the Remington R1s are nice guns. Made in the U.S. and reasonably priced.
I have a 70’s ADL in 270.
It is almost as accurate as my 2 custom bench rifles.
Another couple of boating accidents and I will be in the market for more....
I bet she’s pretty too...
I have a Ruger 77 in 300 win mag that shoots sub MOA.
Remington & Winchester need to step it up to stay ahead of Ruger and Savage.
Remington has had some recent problems—see the R51 for example. They had to recall the entire first run and they seem to be having trouble with the second run. Remington’s problems may not have much to do with a reduced demand for firearms but rather Remington’s recent history of putting out pistols/rifles that seem to have been less than satisfactory.
Do as was done with ObamaCare- Require everyone to buy guns. You want to keep your magnum, you can keep your magnum.
I’ve read many decry the acquisition of Marlin by Remington, making reference to the new rifles as “Remlins”. It certainly makes me appreciate the two examples from the 80s I have, especially the one I’ll take to the deer lease tomorrow. No success so far this year but hoping the doe I passed on opening day makes another appearance.
She is a plum.
A 2 x 7 Leopold with Titanium rings(A friend made them) with a proper leather sling.
It was my first rifle.
In a safe with many toys it is number 2 for SHTF.
Are they still having quality issues with the Marlin line?
I know after they took over and moved manufacturing out of North Haven there were a lot of customers upset with the poor quality.
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