Sturm Ruger Falls as Cabela’s Says Firearms Sales Dropped

Sturm, Ruger & Co. (RGR), the largest publicly traded U.S. firearms maker, fell the most in 10 months today after hunting and fishing store Cabela’s Inc. reported a decline in gun sales.

Shares of Southport, Connecticut-based Sturm dropped 6.7 percent to $63.31 at 3:42 p.m., after declining 7.3 percent for the largest intraday decline since Dec. 18. Smith & Wesson Holding Corp. (SWHC) also fell.

“Starting in August, we saw a significant deceleration in the sales of firearms and ammunition,” Cabela’s Chief Executive Officer Thomas Millner said in an earnings filing today.

Cabela’s, based in Sidney, Nebraska-based, saw a 2.5 percent decline in same-store firearms sales last quarter, Millner said on a conference call. The retailer’s stock reversed losses and gained 0.4 percent to $62.66.

Smith & Wesson, of Springfield, Massachusetts, declined 3.3 percent to $10.78.

To contact the reporter on this story: Caroline Chen in New York at cchen509@bloomberg.net

To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.