The company reported weaker than expected earnings because of a drop in gun sales. It also warned investors it will take a $5 million hit to earnings in the second half of the fiscal year due to the impact of tariffs from the escalating US-China trade war.
The company reported weaker than expected earnings Thursday because of a drop in gun sales. It also warned investors that it will take a $5 million hit to earnings in the second half of the fiscal year due to the impact of tariffs from the escalating US-China trade war. The tariffs will mostly affect its outdoor products -- hunting and fishing accessories that account for more than a quarter of its sales.
"Gun stocks rise after mass shootings and Trump's call for stronger background checksThe company cut its earnings guidance for the full fiscal year because of the cost of tariffs, even though it maintained its revenue target.Read More"Without that impact, we believe our earnings per share would have been within our most recent guidance, but tariffs now make that result unlikely," said CFO Jeffrey Buchanan.
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