Crashing "Post-Obama Era" Gun Sales Lead To Remington Mass Layoffs

Tyler Durden's picture

As we noted last summer, the Obama administration’s constant gun control threats did little more than flood American homes with more guns as people looked to stockpile weapons ahead of anticipated new regulations.  In fact, both of Obama's elections resulted in massive and unprecedented spikes in gun sales.

 

Meanwhile, Obama's presidency was a boon for the gun manufacturers whose revenue, profitability and stocks all soared during his presidency.

 

But while the constant threat of new regulations under Obama resulted in a massive full forward of gun demand and pushed gun stocks to all-time highs, the election of Trump, and thus the removal of those threats for at least the next 4-8 years, is having exactly the opposite effect. 

If fact, Remington Outdoor just announced layoffs of 120 people at their upstate New York manufacturing facility due to sinking gun demand in the Trump era.  Per the Wall Street Journal:

Remington Outdoor Co. has laid off more than 120 workers at an upstate New York factory in response to falling demand for firearms, dealing a blow to an upstate village of 8,000.

 

Since Donald Trump’s presidential victory eased concerns about stiffer gun laws, the small-arms industry has seen a drop in sales. As a result, orders for Remington handguns have slowed, a company spokeswoman said Monday. That is “a dynamic from which Remington is not immune,” she said of the industry challenges.

 

The March 8 layoffs are a hit for Ilion, N.Y., where Remington has operated a plant since the 19th century, said Terry Leonard, mayor of the village located about 60 miles east of Syracuse.

 

“Should they ever just close down totally, it would be a total catastrophe for the entire area here,” the mayor said.

Meanwhile, other firearms makers, including American Outdoor Brands, formerly known as Smith & Wesson, say demand for weapons, particularly handguns, has been ebbing since Trump's election.  Earlier this month the company posted disappointing sales and higher inventories and admitted to investors on their quarterly earnings call that business had slowed...all of which sent the stock into a downward spiral.

SAW

 

Meanwhile, Wedbush equity analyst James Hardiman expects FBI background checks, a good indicator of gun sales, to be down 10-15% in 2017.

Financial analysts said the possibility of new gun laws under the Obama administration almost certainly contributed to strong growth in gun sales last year.

 

“We do believe that having a Republican in the White House…negatively impacts gun sales in that it effectively eliminates any threat of new gun regulation for the foreseeable future,” said James Hardiman, managing director of equities research for Wedbush Securities Inc.

 

Mr. Hardiman forecasts a 10% to 15% decline in FBI background checks for 2017.

The gun industry is sure going to miss this guy:

Obama

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froze25's picture

Saw that last night, good article.

847328_3527's picture

Ruger (RGR) is doing quite well, however.

Belrev's picture

Congressman from Iowa is under fire for saying that "we need more white babies" and "Western civilization is vastly superior"  https://www.youtube.com/watch?v=MlJxwpOhdgM

FrozenGoodz's picture

Greater constraints on gun sales means people see a need to buy them now, increasing demand, increasing sales ... when a President friendly with the NRA arrives nobody sees an issue with buying a gun anytime for the foreseeable future, decreasing demand, decreasing sales ...

 

How's this Obama related in any way?

Douche McGoosh's picture
Douche McGoosh (not verified) FrozenGoodz Mar 14, 2017 12:07 PM

Make Marlin Great Again!

NidStyles's picture

Remington is losing money because their firearms are garbage, and they have been since the Jew trust fund bought them out.

 

They were barely alive even with Obama's help.

 

Doan Nonuffin's picture

bitter jew hater, nice touch.   Raghead or skin head????  I can never tell.

44magnum's picture

Well you couldn't have picked a better name for yourself.

Now what would help Remington is getting the fuck out of New York. Why give those cock suckers any of your tax dollars when they want to put you out of business?

AVmaster's picture

Still goin to buy that 9mm carbine I've had my eye on for a while...

 

But gonna wait for the market to bottom out first....

 

Trump does not suddenly mean that the economic infrastucture is magically fixed and its all unicorns and rainbows from here on out... The best he can do is buy us more time, which he IS doing a great job of doing so far.

Manthong's picture

Cool..

The .50 is a bit heavy and I have been waiting for some better prices in 6.72 Lapua’s.

UmbilicalMosqueSweeper's picture

Nothing wrong with .308 (7.62x51 NATO) sniper round, or .300 Win Mag. Accurate to 1000 yards+,  if you are man enough.

Save_America1st's picture

Remember how o-Traitor and his gang used the banks against the gun and ammo manufacturers and sellers to stop extending loans or allowing bank accounts and payrolls through the banks???

I hope Mr. T. is doing something to reverse that shit too. That was bullshit and it was criminal to use government power to force the banks to cut the gun/ammo industry off like that.  Scumbags.

But just because that fucker is gone and Trump is there for a while doesn't mean any of use should become complacent about gun rights and ownership.  T won't be there forever, and when the tables turn again we're going to have all the same fights against the Marxist traitors just like we had for the past 8 years.

So keep stocking up.  BTFGunDip and BTFAmmoDip.

Keep encouraging others to learn, own, and train to shoot. 

It's the only way. 

#2ndAmendment

And as Mr. Heston once perfectly said (this is a classic):

https://www.youtube.com/watch?v=5ju4Gla2odw

 

 

 

Manthong's picture

“if you are man enough.”

OK, I’m game..

allow me to watch you heave the ol’ M 82 around,

it is a tensor workout before a Leupold optic exercise.

..just find me a couple miles of free firing range.

xythras's picture
xythras (not verified) Manthong Mar 14, 2017 7:20 PM

For all those White Supremacists Here: REJOICE. Another hoax debunked:

No More Faux African Origin: Scientists Find 400,000 Year Old Fossil of Human Brain in Portugal

http://dailywesterner.com/news/2017-03-14/no-more-faux-african-origin-sc...

 

2017 year of Kek: the gift that keeps on giving. Fuck libtards with their African origin theory 

stizazz's picture

400,000 years, 1 Million years, 1 Billion years... Jeez, those folks love to throw numbers around when they don't know shit.

https://biblicisminstitute.wordpress.com/2014/07/17/puzzled-scientists/

kavlar's picture
kavlar (not verified) stizazz Mar 14, 2017 9:03 PM

That's because they're smoking 1 billion year-old weed.

Mano-A-Mano's picture
Mano-A-Mano (not verified) kavlar Mar 14, 2017 9:03 PM

Or cooking up something in the lab.

Manthong's picture

Geez..   a 9mm is a .45 set to “stun”.

But how much more fun can a guy have but to watch what happens when you send a round a hundred feet up ballistic and then hear it hit a metal target still at supersonic speed in a couple of seconds?

The missus has a problem competing.

UmbilicalMosqueSweeper's picture

Just hauling a can of the ammo is a "tensor workout!"

xythras's picture

.

UmbilicalMosqueSweeper's picture

9mm is a pistol round. Get a real rifle round in at least .30 caliber if you are going to use your gun for hunting or effective self defense.

Manthong's picture

I keep a .380 in the pocket just for everyday walk around shopping and stuff.

If I suspect I will to be in a more hazardous setting, the Glock 23 goes in the belt.

But for kids parties and beyond that, the 1911 with the extended 10 round mag gets strapped to the chest.

 

 

Chris Dakota's picture
Chris Dakota (not verified) Doan Nonuffin Mar 14, 2017 5:54 PM

"raghead" is racist, Jew is not.

Just sayin~

Overfed's picture

Technically speaking, "ragheads" (Arabs, Assyrians, Persians, etc.) are white.

knukles's picture

So?  Proposing something .... ummm... a bit .... radical ... are we?

Josey Montana's picture

Sadly, there is no cure for colorblindness.  White is the absence of color. You know, it's why sore thumbs stick out.

Leveraged Algorithm's picture

Remington is poor quality. We should sell them to the Middle East friends...

NidStyles's picture

We already sell them our shitty Century Arms and whatever AK's. Might as well send them some of those shitty Remmy 700's that have to be rebuilt completely to be of any use...

 

 

Manthong's picture

 

Romanian AK

OK

for the price.. maybe needs some varnish on the stock.

UmbilicalMosqueSweeper's picture

Romanian SKS...more accurate.

Food Loaf Junkie's picture

I agree, SKS with the early threaded barrel instead of the later pinned barrel are much more accurate than most AK's.  I have an early chinese model picked up when they were less than $100.00 that I mounted a Simmons scope on and it is deadly out to 200yds.  Past 300 with surplus ammo the grouping opens up but still dangerous out to 400-450.

UmbilicalMosqueSweeper's picture

Century Arms have greatly improved their quality. AKs are .30 caliber. Try hiding behind a tree with a 7.62x39 being fired at you vs. a .223!

shamus001's picture

My Century Arms Ras-47.  Operates flawlessly with no misfeeds or jams at 300 rounds per minute!

https://www.youtube.com/watch?v=ZztdBjz7iSY&t=1s

STP's picture

My Century AK, has been a great weapon so far and I'm able to hit the farthest target out at the range consistently, with my Rem 700 (640 yards).

DosZap's picture

REMINGTONS,rifle downfall started when they  got away from the 700s series,ands started using chinese barrels.(IMO)

Logan 5's picture
Logan 5 (not verified) NidStyles Mar 14, 2017 2:59 PM

@Nid +1

 

I'll take a BROWNING any day & twice on Sunday

Manthong's picture

If I recall…

He had something to do with my favorite 1911’s…

Although he could not envision the cool Laser Max in the guide.

cowdiddly's picture

My old trusty pre 64 Winchester thuthy-thuthy has been a sweeeeet shooting baby for me.

If I cut a notch for all the game it has bagged in 50 years there would not be enough wood to hold on to. And can still make a 3 shoot grouping look like the Ace of Clubs. 

I will never sell it. I will just be like an Egyptian and bury it with me.

dobermangang's picture

Yup.  Ruger and Smith & Wesson are taking market share away.  Sales of guns are still doing fine compared to most other products.  They just are not booming anymore.

knukles's picture

"SWHC"  Smith & Wesson Hand Cannons

slammin_dude's picture

Exactly, they've been producing absolute garbage for decades now....

Funny how after being bought out by anti-gun NY douchebags it started sucking....

Chris Dakota's picture
Chris Dakota (not verified) NidStyles Mar 14, 2017 5:52 PM

PEAK CRAZY!

 

New York About to Eliminate Test Meant to See if Teachers Can Read… because RACISM!


Detractors of the test claim it is all about racism because fewer African American and Hispanic candidates pass the literacy tests compared to whites. According to the state, 46 percent of Hispanic candidates and only 41 percent of blacks pass the test. That compares to the 64 percent of white candidates who pass. Their conclusion is unsurprising: the test is racist.

It couldn’t be that our educational system is so bad that even people smart enough to qualify as a teacher can’t read. No, it HAS to be that the test is racist.

Even more absurd, New York administrators don’t want to hire those evil white people. “Having a white workforce really doesn’t match our student body anymore,” the racist Soodak admitted.

But, yeah, it’s all about the test.

http://constitution.com/new-york-eliminate-test-meant-see-teachers-can-r...

Steaming_Wookie_Doo's picture

OMG...one thing to add: unless that teacher is in maths or sciences, chances are they are not top students. The (admittedly limited) sample I saw in college were C-grade liberal arts majors who smoked pot and had a rather lax attitude. It's even more shocking that only 64% pass at best. Either we really are getting dumber as a culture or there are some other weird "how do you FEEL" questions on the NY test.

This is almost like saying you should pick a doctor who's as sick as you since you'll have something in common. Long charter schools and independent study. Maker labs need to bring back "shop" classes or we are darn near finished. 

TrajanOptimus's picture

How to have a super accurate Remington 700:

Buy gun

Remove stock and trash it

Remove barrel and trash it

Remove trigger and trash it

Remove bolt and trash it

Send action out to have lugs squared, rethreaded, and face squared

Order new barrel from Bartlein

Order new bolt from Pacific Tool and Gauge

Chamber and thread and crown the barrel and go gage chamber to new bolt face

Reassemble with a Timney or Jewel trigger

Install in a CADEX chassis

Put a Night Force scope on it..

And then you will have a Remington 700 worth owning.

Or just skip all the bullshit and buy a stiller action and follow the assembly steps and give Remmington the middle finger for selling such garbage compared to the stuff sold in the 60's

unsafe-space-time's picture

Number one reason they want to be teachers is all the pubescent ass.