Posted May 2, 2018 7:30 am by Comments

By Christen Smith

Vista Outdoor will unload dozens of brands as it refocuses on its “core customer” — and ammo, lots of ammo.  (Photo: Vista Outdoor/Facebook)
Vista Outdoor said this week guns no longer fit into the company’s strategic vision, along with a handful of other outdoor products it will divest over the next two years.
Chief Executive Office Christopher Metz told investors Tuesday “the company grew too fast and beyond its core” after acquiring more than 50 brands over the last three years. A downturn in sales post-election only compounded the situation, he added.
“We can confidently say that our core lies in the hunting and shooting sports market and in adjacent activities, such as camping and hiking,” he said. “Our key consumer is someone who participates in these and other outdoor activities.”
Vista owns companies in firearms, ammunition and shooting accessories, including Savage Arms, Stevens, Federal Premium, Speer and American Eagle. It also holds brands in the outdoor lifestyle market. In the weeks after taking over Vista last year, Metz warned quick, “decisive” action laid ahead in order to stabilize the company amid double digit earnings losses.
So far, the company announced it will divest Savage Arms, Stevens, Bollé, Serengeti and Cébé, among others. Metz said the decision

Source: Guns.com

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