Crashing “post-Obama era” gun sales lead to Remington mass layoffs

From Freedom’s Phoenix

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.

 

Zero Hedge

 

 

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