Bloomberg
Vista Outdoor Inc., which sells everything from Federal Premium bullets to Camelbak water bottles, plans to stop making firearms after some major retailers said they would halt sales of all the company’s products following February’s Florida high-school shooting.
The company said Tuesday it would pare its brands to focus on business lines including ammunition and shooting accessories, water bottles and packs and outdoor cooking ware. It will explore the sale of several brands that make products including Bell bike helmets, Giro snow goggles, Blackburn handlebar tape, Jimmy Styks paddle boards and Savage and Stevens firearms.
“The end result will be a Vista Outdoor that lives up to the potential envisioned three years ago when the company was formed,” Vista Chief Executive Chris Metz said in prepared remarks. The company expects the changes to be made by the end of its 2020 fiscal year.
The company, like other gun makers, has faced a backlash since the February shooting that left 17 people dead in Parkland, Fla., with increased public concern over gun violence shining a light on companies that make firearms and retailers that sell them. Metz said Tuesday the shooting-sports and related outdoor-products market appears to be improving, with reduced discounting and rising demand from wholesalers and consumers, and that the company anticipates a return to growth in the second half of its current fiscal year.
Don’t miss: REI puts orders with gun maker Vista Outdoor on hold.
Vista also said Tuesday its fourth-quarter sales dropped 1% from a year ago, and its profit plummeted 24%. The decrease was primarily caused by lower ammunition prices and more promotions and rebates.
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