Gun Manufacturer Forecast Error Left Excessive Inventory
Forecast Errors newsletter reported that James Covert featured in the New York Post, Smith & Wesson warned that sales and profits for the current quarter will sorely miss its earlier forecasts as demand for firearms plummets following last year's boom. Smith & Wesson's rifle sales dropped by more than 50 percent in the most recent quarter, fueling an overall sales decline of 22 percent, the company said. Handgun sales were down 15 percent. Last year, demand surged following the late-2012...
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