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, 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.
“Demand normalized in 2017, dealers adapted their excessive stock levels and many competitors had extremely aggressive pricing and promotions,” Glock said in the report. While 2018 started with another decline in volumes, the company expects full-year sales to rise. A drop in the U.S. dollar means that may not lead to higher revenue in its own currency, Glock
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