Firearms Sales After Siege
Tensions and anxiety surrounding the US Capitol siege on January 6th appear to have manifested themselves in firearm sales.
While Earnest spend data cannot see product-level detail, Hunting & Fishing and Sports Gear retailers that sell firearms all saw noteworthy sales spikes in the days following the incursion of the US Capitol. Bass Pro Shops (along with subsidiary Cabela’s), Sportsman’s Warehouse, and Dick’s Sporting Goods had especially strong weeks.
For context, Hunting & Fishing sales growth of 106% YoY in the week ending January 13th was greater than the initial lockdown surge of 84% in mid-March, and the George Floyd protest spurred a surge of 100% in mid June. We note that the second round of stimulus payments began to roll out on December 30th, which may have aided some of this outperformance.
The Sporting Goods sector, deemed “essential” throughout the pandemic and therefore mostly open since March, continues to be a net beneficiary from the whirlwind of events over the past year. We continue to watch this sector closely.