We just can't win
Weak sales and a declining gun market increased the price of ammunition in recent months, and companies are gearing up for another price increase this spring, Bloomberg News reports.
After record sales in 2016, the gun industry is seeing declining purchases, and that downturn is steadily driving up the cost for ammunition.
“Shooting Sports recorded third-quarter sales of $286 million, down 21 percent from $361 million in the prior year quarter, as a result of persistent lower demand in the market for ammunition and firearms,” Vista Outdoor Inc CEO Chris Metz said during an earnings call Thursday.
Vista, which owns dozens of ammunition brands, saw profits decline 47 percent in 2017. The company raised ammunition prices once in January and plans to raise prices modestly in April. It expects competitors to do the same.
Other companies have noticed declining sales, and Remington Outdoor Co., one of America’s oldest gunsmiths, filed for bankruptcy protection Monday in the midst of the slump.
“There is no fear-based buying right now,” James Debney, CEO of American Outdoor Brands Corp., formerly Smith & Wesson, said on a December call with investors. Between 2006 and 2016, gun sales reached several record highs, if one measures sales through the FBI’s National Instant Criminal Background Check System.
By Luke E.
I’m thinking about buying one of these 2 and curious if any of you guys have experience with them. Is the Lab radar worth the extra money?
I like that you can shoot for groups and record velocity at the same time with the Lab Radar since it’s not hanging from the barrel.
I’ve looked call over for a used one but it looks like folks hold onto them once they buy one.