Gun companies reckon with declining demand after pandemic surge

📆 1/18/2023 5:17 PM
📰 CNBC

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Large firearm manufacturers like Sturm, Ruger are taking a hit as gun sales, which surged in recent years, return to pre-pandemic levels.

a 28% year-over-year drop in net sales for fiscal third-quarter, reporting $139.4 million, down from $178.2 million in the same period in 2021.

In 2021, background checks for gun purchases totaled 18.5 million, the industry's second-biggest year. In 2022, they totaled 16.4 million. Waning sales, alongside rising material and manufacturing costs, dented profitability for manufacturers.

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Covid destroyed capitalism. No basic free healthcare . That’s what you get . Instead of spending 700 billions on pentagon improve your healthcare.

lower prices a bit.

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