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NAT’L – INDUSTRY INSIDER – Gun Sales Double For Smith & Wesson

Gunmaker Smith & Wesson reported that net sales doubled in its third quarter to $257.6 million compared to last year, with record net income of $62.3 million, in a continuation of the strong gun sales momentum that started with the beginning of the pandemic.  In a call with analysts, Smith & Wesson Chief Executive Officer Mark Smith said it was the company’s third consecutive record-breaking quarter.  He said that “panic buying” has been “driven by fear of gun regulation” and also “fear of personal protection.”

Smith said he believes his company outperformed the overall market, as measured by nationwide background checks for gun purchases. The Federal Bureau of Investigation reported that during that three-month span, background checks jumped 44%, compared to the year-ago quarter.  [full article]

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