Fortune Magazine completely mangles story on gun sales "declining"
Smith & Wesson the announcement., the 162-year-old gunmaker, lowered its guidance for the quarter and rest of the year, even as it reported better than expected sales in its fiscal fourth quarter that ended Apr. 30. Shares of Smith & Wesson’s stock had dropped nearly 9% by the close of trading Friday following
The company reported sales of $170 million in its fourth quarter, higher than the average analyst estimate of about $164 million, according to data compiled by Bloomberg. Revenue was almost 5% less than the year-earlier quarter. . . .
The once high-selling gun industry may be facing a comedown as incidents of gun violence have soared this year. There has been an average of almost one school shooting every week for the past year and a half, the . . . . reported earlier this monthDoes reporter Laura Lorenzetti have any idea how inaccurate the Bloomberg claim that there was one school shooting every week for the last year and a half? The claim that increased gun violence is responsible for a drop in sales makes many errors. Does a sales drop for Smith & Wesson imply an overall drop in gun sales? No.
So what do the NICS checks numbers show on gun sales (click on screenshot to enlarge it)? NICS checks are not a perfect measure of gun sales, but it is hard to see how its biases have changed in a systematic way this past year.