https://www.fool.com/investing/2017/...-bankrupt.aspx
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Don't know what market the so called "slump" is in but it certainly is not in the DOW. From looking at other financial indicators and market reports Remington's pension fund is in serious trouble. Apparently they are high in "we owe" and low in "we got".
Here's the problem...
Every manufacturer in the firearms industry had the presses running overtime and every distributor had the racks filled to the ceiling late last summer/early fall anticipating a Hillary victory which would have launched a new round of panic buying and sent sales through the roof. They all rolled the dice wanting to maximize their profits rather than be caught with empty shelves like they were after Sandy Hook. Then Trump won and all those manufacturers and distributors found themselves sitting on piles and piles of inventory while consumers breathed a big sigh of relief knowing that there wouldn't be a renewed push for massive new anti-gun legislation at the federal level and thus are in no rush to run out and buy anything.
This is why everyone, and I mean EVERYONE, has been offering huge discounts and rebates all this past year. The only way they can get product to move right now is to all but give it away (the $220 Cabela's 12FV's are a perfect example). This is just to sell off stagnant inventory. Meanwhile Remington, Federal Premium, Savage Arms and most everyone else has laid off workers by the hundreds over the last year because the distributors shelves are still filled with what they manufactured last year in anticipation of that Hillary induced buying frenzy. At best the massive rebates are the only think keeping even more people from being laid off.
Simple cause and effect.
The whole industry is going through a reset right now as the market demand is returning to what it was in the pre-Obama years. We've been in a buyers market for about two years now, and it's probably going to last another year or so before the scales of supply and demand balance themselves out again.
Big fan of the legendary Model 700.....I own a BDL, CDL, and a ADL, all in the mighty 30.06...A great hunting rifle and caliber.
MrFurious summed it up well.
The slump in the firearms industry may last for longer than the manufacturers would like. Just exactly how many firearms does the AVERAGE consumer purchase in a year. The average Joe will buy a new rifle and/or handgun and that could well be it for the next several years. The number of people that purchase several firearms per year is a lot smaller than most might think.
FWIW, most of us on forums like this are not AVERAGE. Just before my heart attack and subsequent Surgery I was primed and loaded to purchase another rifle. Have another couple weeks before I can even shoot any of the many in my safe and by then it will be next year.
Remington may well just downsize and work on obtaining more government work until we are faced with another political scare.
As for underfunded retirement plans, what's new? Just about every major corp is in that same boat. Only the Post Office is funding most of their retirement plan because Congress forced them to.
Other companies have stood up , Remmy has sort of gone stale .its not in my nature to see people lose jobs so I hope they snap out of it .that being said their is nothing like a vintage Remmy 700 in the glossy bdl trim .
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This is the problem. "Cerberus Capital Management". They are in the profit business not the gun business.
Not to get on the soap box but I have a savage 114 that was bought when I was looking at 700 mountain rifles . Couldn’t find with the bolt and finish I wanted . I was told by the gander guy to polish the bolt . You shouldn’t have to do that with a 800 rifle to make the bolt slide better even back then
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It is TRUMP's fault.
IF The Hildebeast had won in 2016 all firearm manufacturers would still be running 24/7 assembly lines.
As it is no one is worried about gun grabbers for the next SEVEN YEARS........
Remington don't make what I like, Bull B
6 creed 6.5 creed .260 , and if they did they would be the Wrong twist.
Or to short of barrels.
I build my savage's now!
6.5-47 next year
Or the hornady prc to shoot.the new 6.5 150gn.smk
Add to all this the fact that Remington's QC has pretty much gone down the toilet.... If you gave me a new 700 for free, I'd sell it to get something else.
Amen. The Bushmaster isn't what it used to be by a long shot.Quote:
Originally Posted by Phranque
When I was a Remaholic I wouldn't purchase anything newer than 1985 manufacture. In my research anything newer might be a shooter but anything older would be. Most firearms makers started from family businesses that were firearm lovers and shooters. There was a lot of pride in what they did. When bankers and brokers started looking for ways to increase there wealth they figured out this country had a lot of gun owners and lover that were going to buy guns no matter what .So they slung enough money at the industry that the families sold out and things went down hill from there. IMHO
I went into a large gun store and they have all but stopped carrying Remington rifles. Besides some used stuff, the only rifle they had was a 338LM from Remington. However they have been selling Bergara, Savage, Tikka, and Ruger rifles.
I'd say one of the biggest problems for Remington is their abysmal QC. Their X-Mark Pro Trigger, which was supposed to take on the Accu-Trigger was a disaster. Their barrel quality has been horrible of recent. I haven't heard of many people really wanting to buy a new lever gun from Marlin either. Which is a shame, I like both platforms and I hate to see companies like that struggling with financial difficulties.
What I think will be more interesting to see is the market for more customized firearms. Do you think the demand for custom actions, (stiller, surgeon, Mausingfield, BigHorn, etc) will greatly increase over the next several years? Do you think that companies that make custom parts will see an expansion like McMillan, Manners, and other companies like them will see an increase in demand?