Gunmaker Smith & Wesson announces plans to invest in its facilities in Massachusetts and Maine, despite having moved much of its production to Tennessee in 2023. CEO Mark P. Smith confirms that the company will seek further cost efficiencies at its original sites, while total gun sales nationwide have declined 5.4% in recent months.
In conjunction with the investment news, Smith & Wesson reports a significant decline in earnings, with net sales down 11.4% from the previous year. The company cites inflation, high interest rates, and tariff uncertainty as significant factors affecting the firearm market. The extension of the company’s annual summer shutdown to manage inventory further underscores the challenges facing the industry.
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