Some interesting facts from an article in BusinessWeek.
In August, for instance, the FBI processed 1.4 million inquiries into potential gun buyers, down 7 percent from August 2012.
This morning Ruger posted a 45 percent increase in quarterly sales and said demand remains high. In early September, Smith & Wesson similarly shot the lights out on Wall Street by announcing a 30 percent increase in guns sold. “We continue to see strong pull for a majority of our product portfolio,” Chief Financial Officer Jeffrey Buchanan said on a conference call at that time
Last month, however, major gun retailer Cabela’s (CAB) warned that firearms demand had been dropping “significantly” while ammunition sales slowed as well. The company’s same-store gun sales fell 2.5 percent in the recent quarter, which the chain will no doubt take into account the next time it puts in wholesale orders at Sturm Ruger and Smith & Wesson. “We’re actually anticipating it to get worse,” Cabela’s CFO Ralph Castner said during a conference call.
Of course, with Obama being the Greatest Gun Salesman, it’s only a matter of time before he says or does something stupid and the buying frenzy begins again.