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Wednesday, September 13, 2017

Gun Sales Up In August After Summer Slump

June and July were down months for gun sales in the U.S., but figures from August are being taken by many in the industry as a positive sign.

Guns.com reports that based on data from the National Instant Criminal Background Check System (NICS), the worst appears to be over for firearm manufacturers and retailers. Background checks declined 12 percent in June and 26 percent in July, but August saw a modest increase of 9.4 percent. Industry executives expect sales to continue to climb with the beginning of hunting seasons in fall and holiday shopping in the winter.

CEO James Debney of American Outdoor Brands, the holding company for Smith & Wesson, stated that widespread promotions make it difficult to make specific projections at the moment. “It’s a very dynamic environment right now. You do not know what a competitor is about to do next in terms of their promotional activity.” Nevertheless, he agreed that prospects for recovery look good.