We purchased another firearm yesterday, a Glock 19 at a discount that I just couldn’t pass up. I’ve lost count of how many firearms we’ve purchased since Obama was elected. Guns are a good investment. The Wall Street Journal reports that Cabela’s and other retailers are preparing for an even bigger surge in firearms sales if Obama is re-elected.
As Cabela’s prepares the selection of guns it will sell for the holiday season and winter hunting, the outdoor-gear retailer has two plans: one if President Barack Obama is re-elected, and one if he isn’t.
The Sidney, Neb.-based retailer and other companies in the guns-and-ammo business say if Mr. Obama wins a second term they are preparing for a surge in sales—the same as they saw after he was elected in 2008—from buyers fearful the president would back policies to make buying a gun more difficult. If Republican challenger Mitt Romney wins, though, the chain plans to stock more items such as waterproof boots and camouflage hunting gear.
Smith & Wesson, maker of the popular M&P Shield and my favorite pistol (1911SC E series .45ACP,) raised its full-year sales forecast last week to $530 million to $540 million, up from its previous estimates of $485 million and $505 million, citing strong consumer demand that led to a 30% jump in the number of firearms sold in the first quarter of 2013 compared with the year before.
WSJ reports that closely-held Bass Pro Shops said it also expects gun sales to ramp up heading into the 2012 election, but declined to disclose sales figures. Cabela’s saw a 25% increase in new gun buyers right after the 2008 election, and continues to see strong sales, aided by an uptick in female and younger customers.
In a second term, President Obama wouldn’t have to be worry about being re-elected so “there’s no political downfall if Obama enacts more stringent gun-control measures,” said NRA spokesman Andrew Arulanandam.
Nearly 12 million background checks for gun sales took place in the U.S. this year through Aug. 31, up 56% from the same period in 2008, according to the Federal Bureau of Investigation. Customers must undergo background checks before buying firearms from federally licensed sellers.
Collections of federal excise taxes on the sale of new firearms and ammunition, a proxy for gun sales, rose to $453 million in 2009, a 45% jump from the year before. That’s a significant surge compared with the average 6% annual increase reported by the Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau from 1993 to 2008. Excise tax collections have moderated somewhat, to $344 million in 2011, but remain above pre-2008 levels.
As demand has risen, supply hasn’t kept up. Manufacturers are experiencing backlogs, even as they raise prices and report record profits.
By the way, four members of the family spent the morning at the firearms range today. We shot a variety of handguns manufactured by Glock, Sig Sauer, Ruger, and Smith & Wesson. We all agreed that the $400 M&P Shield is a must have at $400. This is by far the most accurate pocket gun with the best trigger that any of us have ever shot. In fact, the trigger and accuracy are superior for any handgun.
If you can find one, grab it up. They are out the door as soon as they hit the store.
”A free people ought to be armed.”