GUN, AMMO SALES SKYROCKET
CEO of ammunition manufacturer calls current demand “intense”
Purchasing a gun is difficult these days, especially since demand is soaring as concerned Americans are arming up as the country transforms into a violent mess.
Readers have already been briefed, on multiple occasions, of the developing ammo shortage this year.
We first shined the spotlight on surging gun and ammo demand at the start of the virus pandemic. Then found demand for weapons and bullets rose in early summer as social unrest unfolded.
Now the Financial Times sheds more color from within gun and ammo manufacturers and distributors of the unprecedented demand in the last six months.
Arizona-based Ammo Inc, an ammunition manufacturer, reported 2Q20 revenues jumped 125% to $9.7 million. Fred Wagenhals, chief executive of Ammo, said there had been an “extraordinary” demand for its retail hunting, sports shooting, and self-defense products. He said the company is working through a record $45 million backlogs in orders.