Canada Bans Assault Weapons
Canada’s Prime Minister Justin Trudeau on Friday announced that assault-style firearms would be banned in the country.
NRA Cancels National Rifle & Pistol Championships Due To COVID-19
The National Rifle Association (NRA) has decided to cancel the 2020 NRA Precision Pistol Championships, July 1-5; NRA High Power Championships, August 9-25; and the 2020 NRA Smallbore Championships scheduled for July 23-August 4 due to the coronavirus.
Winchester’s Q1 Revenues Climb 20 Percent
Olin Corp. reported sales in its Winchester firearms segment were $188.0 million for the first quarter compared to $157.2 million in the first quarter 2019, representing a gain of 19.6 percent. The increase in sales was primarily due to higher commercial and military sales.
Vista Outdoor Sees Q4 Earnings Exceeding Guidance, Appoints CFO
Vista Outdoor expects fourth-quarter earnings to exceed expectations after seeing “strong demand” within its commercial ammunition, cycling and outdoor cooking categories, and also said it believes it has the financial flexibility required to navigate COVID-19’s impact. Vista Outdoor also appointed Sudhanshu Priyadarshi as CFO.
Firearm Industry Honors Senator Shelley Moore Capito As Legislator Of The Year
The National Shooting Sports Foundation (NSSF), the trade association for the firearm, ammunition, hunting, and recreational shooting sports industry, recognized U.S. Senator Shelley Moore Capito (R-WV) as the 2019 National Shooting Sports Foundation Legislator of the Year.
Creedmoor Sports Appoints Bill Gravatt As Managing Director
Creedmoor Sports, serving the precision rifle shooting community for more than 40 years, hired Bill Gravatt as managing director. He was most recently president of Capstone Precision Group (Berger Bullets).
Century Boats Acquires Vanquish Boats
Century Boats, based in Zephyrhills, FL, announced the acquisition of Vanquish Boats. The existing Vanquish models will soon be reintroduced as Century Coronado.
Bass Pro Reduces Pay For Executives And Store Managers
Bass Pro’s senior leadership is taking a 20 percent cut in pay as part of a move to absorb the coronavirus fallout, according to a company memo attained by Forbes. Pay for store managers, distribution center managers and other salaried employees will be reduced by 7 to 15 percent.
NRA Sues New York Over Deeming Gun Stores ‘Non-Essential’
The National Rifle Association of America (NRA) is suing New York for shuttering gun stores amidst the ongoing coronavirus outbreak.
Sierra Bullets Welcomes Matt Ohlson As VP Industrial Sales
Sierra Bullets announced that Matt Ohlson has appointed vice president, industrial sales.
Bass Pro’s Debt Ratings Outlook Lowered To Negative
Moody’s changed its debt rating of Bass Pro Group, L.L.C. to negative from stable. The change in outlook to negative from stable reflects the risk that Bass Pro’s credit metrics may weaken on a sustained basis as a result of recessionary conditions and declines in discretionary consumer spending.
Acquisitions, Firearms, E-Commerce Fuel Sportsman’s Warehouse In Q4
Sportsman’s Warehouse Holdings Inc. reported net sales for the fiscal fourth quarter of $258.2 million, up 6.4 percent from $242.7 million in the prior-year quarter. The net sales increase was primarily due to a strong performance from eight acquired stores, momentum in the firearm and ammunition categories in January and growth in its e-commerce business.
Smith & Wesson Appoints VP Of Sales
Smith & Wesson Inc. announced that industry veteran Sue Cupero has been promoted to the role of vice president, sales.
Sturm, Ruger’s Q4 Revenues Slide 13 Percent
Sturm, Ruger & Company reported revenues declined 13.2 percent in the fourth quarter to close off 17.2 percent in the year. CEO Chris Killoy said, “Manufacturing overcapacity, excess inventories at all levels of the channel, and a continued softness of demand led to a marketplace saddled with undisciplined discounting, reckless extension of payment terms, and excessive promotions.”
T-H Marine Acquires Maurice Sporting Goods Marine Division
T-H Marine Supplies, LLC of Huntsville, AL, announced that it has acquired First Source. First Source was the marine accessory division of Maurice Sporting Goods, one of the largest sporting goods distributors in the U.S.
