Smith & Wesson Experienced a 35% Sales Increase After Years Of Lagging Sales
On September 7, 2023, renowned gun manufacturer Smith & Wesson announced its first year-over-year net sales increase in eight straight quarters. In the company’s most recent quarter, sales surged by $29.8 million to $114.2 million. That constitutes a 35.4% increase from the same quarter of 2022.
“We are very pleased with our first quarter performance,” Mark Smith, the president and CEO of Smith & Wesson, proclaimed in a statement. “Our top line results reflected strong consumer demand for the Smith & Wesson brand at retail. Channel inventory of our products remained steady throughout the seasonally slow period this summer, indicating healthy pull through of our shipments at both distributor and retailer levels.”
Other gun businesses such as Ruger also reported a surge in its net sales during August. In that month, Ruger reported $142.8 million in sales during its most recent quarter. That marked an increase from the same quarter in 2022.
Smith & Wesson’s CEO expressed his satisfaction with the recent increase in sales. He believes that this upward trend in firearm sales will stay in effect in the upcoming quarter, when gun sales traditionally climb upwards
“Innovation and our iconic brand’s reputation for quality continue to be big drivers of consumers’ preference for Smith & Wesson,” Smith declared. “Combined with healthy, lean channel inventories as we enter the traditionally busy fall season, we anticipate these tailwinds will allow us to continue to deliver strong results.”
Indeed, it’s only a matter of time before renowned firearms manufacturers begin experiencing increases in gun sales. Americans have increasingly lost faith in law enforcement these days as they realize that these institutions can no longer be trusted to maintain public order.
In turn, Americans are beginning to turn to the time-honored tradition of the right to bear arms to protect themselves and their loved ones. Companies like Smith & Wesson stand to benefit handsomely. More importantly, Americans will benefit greatly from having the ability to defend themselves without having to rely on the police — who are often minutes away when precious seconds count during confrontations against criminals.