Obama was great for the gun business and Trump's been terrible

[question everything]

Source: Yahoo Finance

The Obama years were a great time for the gun business.

But since the election of Donald Trump as president and the resulting decline in fears over increased gun regulation, sales in the industry have plummeted.

On Thursday, shares of gunmaker Sturm, Ruger & Co. (RGR) were down as much as 9% after reporting results Wednesday afternoon that missed expectations. In the second quarter, sales for the company were down 22% against the same period last year while profits fell 53%.

In its earnings release, Sturm, Ruger cited, among other factors weighing on results, “Decreased overall consumer demand in 2017 due to stronger-than-normal demand during most of 2016, likely bolstered by the political campaigns for the November 2016 elections.”

Cabela’s (CAB), an outdoors retailer which sells guns, was also down about 1% on Thursday after it reported second quarter retail store sales declined 6.7%.

“Since the fall election, we have continued to see a slowdown in firearms and shooting related categories,” said Cabela’s CEO Tommy Millner.


Read more: https://finance.yahoo.com/news/obama-great-gun-business-trumps-terrible-163923519.html

[IronLionZion]

1. Trump's killing jobs in the gun industry!

After 8 annual "Obama's coming to git yer guns!" sales people probably have enough. There might even be data on how it influenced the economy by people spending money on guns instead of the necessities of life.

[Dustlawyer]

5. People also bought a lifetime supply of ammo in case Obama was able and willing to

shut down ammo sales. The gun and ammo business is in for a long famine after 8 years for feasting.

[berksdem]

2. this has nothing to

do with Trump being "bad" or Obama being "good" for the industry. It was all about a Obama and the false narrative that he was going to come and take all the guns away - which was total BS to begin with obviously. Guns sales were strong b/c right wing idiots were told they were not going to be able to have guns so they purchased a ton before "yer liberty is taken away be yer Kenyan president."

I live in Pennsyltucky and the Trump crowd was always in fear of people "stealin' yer freedom."

[mainer]

3. Ironic. The NRA supported the candidate who'd kill the gun industry

Gun manufacturers thrive on paranoia. When their guy's in office, there's no paranoia. Maybe next time, they'll wise up and send a check to the Democratic candidate.

[Aristus]

4. We told you not to vote for Trump.

But noooooooooo...

[keithbvadu2]

6. Imagine the gun industry promoting the next democratic candidate.

Imagine the gun industry promoting the next democratic candidate.

That would be some carefully worded political ads knowing what would follow.

Maybe a phony grassroots organization?

[Initech]

7. Why not? The NRA is a phony grassroots organization!

I say we fight fire with fire!

[Bengus81]

8. Why would it be slowing down? Obama took ALL their guns right??

It should be booming.............

[bearssoapbox]

9. Here's the store room where the guns confiscated by President Obama are stored.

The screwballs have been waiting and watching.