Glock’s Gun Sales Plummet in First Year of Trump Presidency
In a rare look at its corporate finances, the maker of some of America’s favorite handguns reported a 35% plunge in revenue.
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Before Donald Trump and the Republicans won the 2016 elections, Americans stockpiled guns like there was no tomorrow. Turns out the end of that panic-buying weighed heavily on the sales of Glock GmbH, the Austrian maker of some of America’s most popular handguns.
Glock sold 36 percent fewer handguns in 2017 and revenue fell 35 percent to 464 million euros ($533 million), the company based in Ferlach, Austria, said in its annual report. Net income slumped 58 percent to 67.9 million euros, following an extraordinarily profitable 2016.