Reported 20 days ago
Smith & Wesson reported a significant decline in its stock after revealing that inflation severely affected firearm sales, leading to lower than anticipated demand. In the second quarter of fiscal 2025, the company's adjusted net income dropped, prompting them to reduce their sales outlook for the remainder of the year. CEO Mark Smith noted that consumer caution in discretionary spending was more pronounced than expected, significantly impacting sales forecasts.
Source: YAHOO