July Breaks Gun Sales Record

One of the country's leading gun makers saw earnings triple as gun sales once again shattered previous records for the month of July.

July 2020 saw an estimated 1,795,602 gun sales—a new record and an increase of 133 percent over July 2019, according to a Washington Free Beacon analysis of FBI data. July is the fifth consecutive month to set a gun-sales record. Chris Killoy, chief executive officer of Sturm, Ruger & Company, said the current spike in sales is unlike anything he has ever seen. The buying spree shows no signs of slowing down and heavy demand will "sustain itself" into the fall, Killoy predicted.

"Having been in this industry for 30 years, I saw the surge in 1994 before the assault weapons ban took place," Killoy told investors on Thursday. "This is probably the strongest level of demand that I've seen. One of the most significant differences is how it has impacted all levels of the channel and the impact on inventory at all levels."