S&W Sales Up, CEO Claims 'New Normal'

by
posted on March 11, 2021
** When you buy products through the links on our site, we may earn a commission that supports NRA's mission to protect, preserve and defend the Second Amendment. **
smith-wesson-double-net-sales.jpg

Smith & Wesson’s latest quarterly reports reflects an increase in net sales of 102.2 percent—more than double the same period last year—but answers from company President and CEO Mark Smith during the follow-up earnings conference call add insight to February’s estimated firearm sales, which some claim telegraph a significant slowdown. Sales were up last month when compared to 2020, but not at the same unprecedented rate experienced through most of that year.

“January of 2021 was the fifth largest NICS month ever on record,” Smith explained. “And the February results that were just released on Tuesday indicate that although the firearm sales decelerated sequentially, we believe, due to a number of factors from severe weather disruptions to delayed stimulus and tax returns, interest in the shooting sports remains very strong, with daily rate of firearm permit checks flat sequentially and 35 percent above prior year for February. We do expect, as we lap the beginning of the pandemic in March, that NICS checks comparisons will become more difficult. But we also believe that the expanded consumer base has fundamentally increased the number of participants in the market.”

FFLs contacted by Smith & Wesson reported the winter storm that hit the traditionally big gun-ownership state shortened their operational hours in an already abbreviated month. “We spoke to some retailers who said, well, yes, of course, because I was shut down for a week because we didn’t have any power down south or etc.,” Smith explained. “So, I think, as I said, we kind of got a little bit of a confluence with a bunch of different factors playing into February.”

Other variables he mentioned included a drop in new customers willing to settle for any self-defense-appropriate gun. “But people are still coming into the store and maybe where they wanted a Shield EZ—and it wasn’t available—they would buy whatever else was under the counter,” Smith said. “Now they’re kind of saying, well, I’ll come back when you have [it] available—availability. So, you’ve got a little bit of that going on, maybe a little bit of that panic buying going is subsiding a little bit.”

February’s gun sales may be a more accurate picture of what to expect in the future, according to Smith. “[T]he demand is very strong,” he said. “So when that deceleration or…‘normalization’ occurs, we don’t know. And quite frankly, as we talked—as we said in the prepared remarks, there’s a whole lot more participants in the industry right now. So, I definitely believe that we’re at a new normal, if you will.”

 

Latest

springfield armory kuna
springfield armory kuna

Springfield Kuna: A PDW For The Masses

Small, yet fierce, the namesake of Springfield Armory’s latest large-format pistol is a revered forest dweller in the land of its Croatian manufacturing partner, HS Produkt. The new Kuna is poised to be just as welcome in America.

The Armed Citizen® June 30, 2025

Read today's "The Armed Citizen" entry for real stories of law-abiding citizens, past and present, who used their firearms to save lives.

Book Review: Clockwork Basilisk: The Early Revolvers Of Elisha Collier & Artemas Wheeler

The result of a decade of research, Clockwork Basilisk is a comprehensive, two-volume history of the rare revolvers that preceded the development of the well-known Colt guns of the 1830s.

Preview: 1791 Gunleather Cobra Gun Belt 01

Employing the same rugged and rigid 0.25"-thick American steerhide as 1791 Gunleather’s original Gun Belt 01, the new Cobra Gun Belt 01 offers enhanced ease of use by taking advantage of a high-strength Cobra quick-latch/release buckle.

NRA CEO Hamlin and President Bachenberg Hold First Virtual Townhall

In the interests of transparency, NRA CEO and EVP Doug Hamlin and NRA President Bill Bachenberg held a live Townhall event, where both answered direct questions from NRA members.

Benelli Adds New 28-Gauge Models to Super Black Eagle 3 Line

Benelli initially introduced the 28-ga. chambering to its Super Black Eagle 3 line in 2022, but this year, the company added three new models tailored specifically to hunters.

Interests



Get the best of American Rifleman delivered to your inbox.