American Outdoor Brands posted lousy earnings Thursday, as the gun industry continues to suffer.
American Outdoor Brands, which owns the famous Smith & Wesson brand, reported a 33% year-over-year decline in quarterly net sales, and profits that sank 65%.
The company makes and sells a variety of guns including the M&P line of handguns, as well as military-style semiautomatic rifles. These AR-15-style rifles are referred to as assault rifles by gun control advocates, but the industry calls them modern sporting rifles.