Gun sales skyrocket as fear drives demand

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Gun maker Smith & Wesson reported a fourth-fiscal-quarter, net-sales increase of nearly 20 percent, a sales jump of about $99.5 million.

That surpassed the net sales limit of $83.1 million for the same quarter last year.

Consumers are snatching up handguns across the country at a record pace.

Ammunition has been scarce in Colorado Springs with retailers reporting shortages and sales within the hour when stocks arrive.

The reason for the run on guns is no mystery to Richard Gandolf, chairman of the Colorado Springs Committee of Friends of the National Rifle Association.

“People are fearful the government will stop them from being able to buy firearms in the future,” he said. “We don’t know if that’s going to happen, but it’s fear of the unknown.”

Smith & Wesson President and CEO, Michael F. Golden, apparently understands the sales motivation, too.

“These results demonstrate that we continue to capitalize on the strong consumer demand for our products, particularly our handguns and tactical rifles,” he said in an earnings statement.

What’s more surprising is that the demand has pushed handgun prices up nearly 50 percent, Gandolf said.

“We buy boatloads of them for the NRA,” he said, “and orders haven’t even begun to slow.”

2 Responses to Gun sales skyrocket as fear drives demand

  1. What a sad comment on the state of our society.

    RJF
    June 23, 2009 at 12:49 pm

  2. I can’t believe that we have politicians in place that make us worry about the government taking away our constitutional rights. Sad, indeed.

    Julie
    June 23, 2009 at 1:56 pm