Gun Sales Bring Big Profits Nationwide, Locally

Gun Sales Bring Big Profits Nationwide, Locally

Smith & Wesson, a major firearm distributor, reported big profits in the third quarter. Local shops have also seen the increase.
(ST. JOSEPH, Mo.) A leading gun manufacturer is reporting huge profits for the third quarter of the fiscal year.

Smith & Wesson, a Massachusetts based company, reported a third quarter profit of $20.8 million, which is a 42% increase in sales.

"It's been a roller coaster year," said Jeff Leonard, co-owner of J & B Outdoors. "January and February last year obviously there was a huge panic in the market. People came out and bought everything."

The increase in sales is a good sign for a market that has faced uncertainty.

Leonard said he believes many factors played a role in the market's resurgence, including more people wanting conceal and carry permits.

"It's amazing how many people come in, people you wouldn't expect to carry a firearm," Leonard said.

Nobody knows that better than DGS Total Range in St. Joseph. They teach conceal and carry classes to those willing to learn.

"Personal safety, personal security, personal responsibility is up," said Gary Clark, a sales rep for DGS.

DGS Total Range also has a wide variety of Smith & Wesson firearms, but said all gun sales are up, especially this time of year.

"We get a lot of people with tax return money and this seems to be something common that people spend their money on is firearms," Clark said.

Both stores locally say higher demand has also increased prices across the board. This means higher profits for companies like Smith & Wesson.

There's a huge demand right now and the supply hasn't quite caught up and unfortunately that gets passed down to the final consumer.

Analysts expect sales to level out in future months.

Because of the increase in sales, stores nationwide are facing ammunition shortages to meet the demand.

The stores locally said ammunition is slowly coming back to normal levels.
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