Gun store owners say they're seeing a drop in sales as a result of bargain hunting and President Trump's pro-Second Amendment support, Bloomberg reported.
The maker of Smith and Wesson - American Outdoor Brands Corp. - said it has seen its annual profit drop by as much as 45 percent as gun purchasers look for better deals elsewhere. The report credits the president's staunch pro-Second Amendment support giving gun owners security that their firearms will not be taken away or restricted as in past administrations.
Despite the mass shootings, which in the past have drawn gun owners to stores as they fear impending lawmaker restriction, gun store owners say they have not seen this so-called "fear-based" buying.
The recent massacre in Las Vegas during a country music festival now ranks as the deadliest mass shooting in the U.S.
But gun makers aren't slowing production to meet the lower demands, and inventories remain high, according to James Debney, the CEO of American Outdoor, who spoke with Bloomberg.
This has sparked a price war across the industry as people look for the best deal rather than buying what's convenient.