ICYMI: Industry News
From August 2–6, 2021
Ruger Reports Q2 2021 Earnings
Aug. 4, Ruger announced for the second quarter of 2021 its net sales totaled $200.1 million, compared with net sales of $130.3 million in the second quarter of 2020 (53.6% increase).
For the six months ended July 3, 2021, net sales were $384.4 million — a 51.4% jump over the corresponding period in 2020 ($253.9 million in net sales).
Ruger CEO Chris Killoy observed: “The continued strengthening of our workforce, our increased productivity, and strong demand allowed us to achieve outstanding financial results. The dedication and commitment of our over 1,900 hardworking employees resulted in our seventh consecutive quarterly increase in production, and the continued reduced level of Ruger inventory at the independent distributors and in our warehouses is indicative of strong consumer demand for our firearms.”
Sales of new products, including the Wrangler, the Ruger-57, the LCP II in .22 LR, the PC Charger, the MAX-9 pistol, and the LCP MAX represented $77.9 million or 22% of firearm sales in the first half of 2021. (New product sales include only major new products that were introduced in the past two years.)
For more info: ruger.com/corporate.
Leupold Breaks Ground On Distribution Center
Aug. 4, Leupold & Stevens Inc. broke ground on its new Distribution Center. The state-of-the-art facility will be located in the southwest corner of Leupold’s 27-acre campus in Beaverton, Ore.
The new distribution center will replace Leupold’s smaller, existing facility, which is located offsite. Upon the project’s completion, Leupold will have more than 200,000 sq. ft. of office, manufacturing, and distribution space onsite.
“Having our new distribution center on-site at our existing corporate campus will increase efficiency and help us bring even more overall value to our customers. It’s a testament both to the growing strength of our brand and the support that our partners and core consumers have shown us,” said Bruce Pettet, Leupold president and CEO.
For more info: leupold.com
frogg toggs Acquires Insight Outdoors
frogg toggs has acquired Alabama-based hunting and fishing gear company Insight Outdoors. The acquisition enhances frogg toggs’ existing product lines by expanding its current offerings to add hunting and fishing bags and packs.
“frogg toggs has worked diligently to strengthen and diversify its product offerings, and the acquisition of Insights Outdoors supports that mission,” said Will Fowler, frogg toggs president and marketing director. “Together, we’ll better serve our customers by offering a more expansive product selection based on quality, performance, and innovative design.”
As part of the acquisition, Insights Outdoor Business Manager Monte Bennett will join the frogg toggs’ executive team.
For more info: froggtoggs.com, insightsoutdoors.com.
SilencerCo Announces “Lower Receiver Fever” Promo
SilencerCo has launched a promo featuring the SilencerCo billet AR-15 lower receiver, the SCO15. From Aug. 2– Sept. 10, 2021, when consumers spend at least $799 before tax, they will qualify for a free SCO15 Lower (MSRP $249).
In order to receive a free SCO15 Lower, customers must include at least one SilencerCo suppressor in their $799 purchase. To make sure the minimum dollar amount is reached, SilencerCo accessories can be included in the purchase. Customers are limited to five free lowers per person at the rates listed below:
• Spend $799 before tax, must include one suppressor – receive a free lower;
• Spend $1,598 before tax, must include two suppressors – receive two free lowers;
• Spend $2,397 before tax, must include three suppressors – receive three free lowers;
• Spend $3,196 before tax, must include four suppressors – receive four free lowers;
• Spend $3,995 before tax, must include five suppressors – receive five free lowers.
To qualify, all products must be purchased through a retailer and customers must then use their submitted Form 4, receipt or proof of purchase and a copy of the dealer’s FFL to register on the SilencerCo website. The closing date for registration is Oct. 1, 2021.
“We learned a lot from our last summer promo,” said Jonathon Shults, SilencerCo founder and president. “Our customers are our number-one priority, and we’re implementing all of the important lessons we learned in order to make it a smooth process this time around.”
For more info: silencerco.com.
Freedom Shooting Center Announces Expansion Effort
Aug. 3, Freedom Shooting Center — the largest indoor shooting range in the Hampton Roads, Va., region — announced it has begun expansion initiatives to bring the Freedom Shooting Center banner to new markets across the southeastern region of the U.S.
“The first step we’re taking to grow exposure to the ‘Freedom Experience’ is our recently launched online store, FreedomOutdoors.us, and simultaneously expanding our product offering of outdoor categories,” the range said in a press release. “Additionally, we’re actively looking for acquisition opportunities of existing indoor range/retail businesses.”
The release continued, “Our team is very excited about expanding both into new markets and new product offerings in categories, such as hunting. We consider it a great privilege to participate in serving and growing the shooting and outdoor sporting community. And, we consider it a great privilege to serve our members and guests who are truly the best ambassadors for our community!”
To explore a potential acquisition, contact: acquisitions@freedomshootingcenter.com.
For more info: freedomshootingcenter.com.
