An unprecedented run on guns — partly due to Covid-19 — is so strong, that Sturm Ruger and Company can’t produce them fast enough, again partly due to Covid-19.
“The incredible surge in demand outstripped our production capacity, ” said CEO Christopher Killoy, in an earnings call on Thursday. In his 30 years in the industry, “This is probably the strongest level of demand that I’ve seen,” including the surge preceding the assault weapons ban.
The demand surge didn’t lead to a hiring surge. Indeed, the company suspended hiring from March until June – and even gave employees a couple of staggered weeks off – as it tried to figure out how to step up production while maintaining the sanitation, social distancing, protective equipment and health protocols needed to prevent an outbreak that could bring an entire facility to a standstill. Those precautions cost the company about $3 million, through reductions in traveling and trade shows offset that by a $1 million. Since then, the company has hired 50 employees bringing the total to 1,600 between it’s three facilities.
It also meant that production simply couldn’t keep up with the demand. Indeed, in the first quarter, production actually was off slightly, and while in the second quarter the number of units produced went up by a quarter – the orders nearly tripled. The backlog of 767,000 guns at the end of the quarter, is six times than it was the year before. The inventory – some 97,000 guns – was down from 388,000 from a year ago, and less than half the 224,000 at the beginning of the quarter.
I've been surprised at how much old guns have gone up on GB. I can understand panic buying on hi cap modern stuff as that's what the lefties scream about all the time, but SAAs and Winchesters?
Welcome back to the planet!
What cave have you been living in lol.
I've been trying to find a 300 blackout pistol and everybody acts like I'm trying to buy a clorox wipe pallet.
I also read that Brazil just received a bumper crop of Glock handguns to the tune of $$$millions.
I shot at Shoot Point Blank in Carmel last Thursday, no Glocks or 9/40/45/380 ammo.
Those who say they see Glocks out there, I say BS, as I cannot find a Gen 3 G -23 anywhere in central Indiana, SR Jenkins PolicevSupply in Indy does have Blue Label Glocks in stock if you qualify as LEO or Veteran. [/QUOTE]
Did Glock extend the purchase program for DD214 holding veterans ? I thought that had ended last year.