Remington Files for Bankruptcy
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- CelticCat
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Remington Files for Bankruptcy
Just another sign of the declining firearms industry. I just got out of the industry myself, was getting concerned about my job security. It's taken a big hit since Trump was elected.
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- allcat
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Re: Remington Files for Bankruptcy
Isn't this more about getting rid of lawsuit liability than sales?CelticCat wrote:Just another sign of the declining firearms industry. I just got out of the industry myself, was getting concerned about my job security. It's taken a big hit since Trump was elected.
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- CelticCat
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Re: Remington Files for Bankruptcy
Remington was likely mismanaged for years, in additional to the lawsuits. I think the declining sales was probably the factor that pushed them over.
Most manufactures were down about 30-50% YOY in revenue and upwards of 80% profit, at least as of Q3 2017, since they had to essentially discount the sh*t out of everything for it to move.
Most manufactures were down about 30-50% YOY in revenue and upwards of 80% profit, at least as of Q3 2017, since they had to essentially discount the sh*t out of everything for it to move.
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Re: Remington Files for Bankruptcy
From what I read they are saying part of the reason for declining gun sales is a "reverse Trump effect". During the Obama years people were buying up guns in case there was actually a change in the second amendment. Now, with Trump an avid supporter of the second amendment, the fear factor has gone away and sales have "declined".
- RickRund
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Re: Remington Files for Bankruptcy
Makes very good sense...Mr Lisle wrote:From what I read they are saying part of the reason for declining gun sales is a "reverse Trump effect". During the Obama years people were buying up guns in case there was actually a change in the second amendment. Now, with Trump an avid supporter of the second amendment, the fear factor has gone away and sales have "declined".
I bulked up under Obama!! And also due to California's stand on firearms!
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- CelticCat
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Re: Remington Files for Bankruptcy
There is more to it than that, but that's certainly a part of it. A lot of inventory was built up in anticipation of a Clinton win, so the biggest problem the gun industry has right now isn't a pro-gun White House, it's excess inventory.Mr Lisle wrote:From what I read they are saying part of the reason for declining gun sales is a "reverse Trump effect". During the Obama years people were buying up guns in case there was actually a change in the second amendment. Now, with Trump an avid supporter of the second amendment, the fear factor has gone away and sales have "declined".
Manufacturers have discounted heavily to move product, retailers have absorbed some of this discount. Gun prices have been very low all year long, it'll be interesting to see if customers are willing to go back to the pre-discount prices with a pro-gun White House. I don't think so, which is why I got out. My company was too small to adsorb a few years in the red.
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- WeedKillinCat
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Re: Remington Files for Bankruptcy
I would never support Remington after all of those years they knew they had a problem with the gun firing without the trigger being pulled. It was a simple inexpensive fix and they refused to take care of it.
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