Vista Outdoor selling firearms manufacturing business

vista-outdoor

Vista Outdoor is selling its firearms manufacturing business, becoming the latest company to distance itself from firearms following the massacre at a Florida high school in February.

Vista has been pressured for months by retailers that sell its other goods like Bell bicycle helmets and CamelBak water carriers, to stop manufacturing firearms. The Utah company said Tuesday that it will be seeking buyers for its firearms manufacturing business, and will focus on products for outdoor enthusiasts. It will continue to sell ammunition, its biggest core businesses.

National outdoor retailer REI suspended all orders from Vista in March after it refused to say if it would continue to manufacture weapons. REI said it’s aware of Vista’s announcement, but did not say if it would resume doing business with the company.

During a conference call Tuesday, Vista CEO Chris Metz said that the company was already moving in the direction of shedding its firearms business, prior to the Parkland shooting in February that left 14 students and three educators dead, and 17 others wounded. In the aftermath of the shooting, Dick’s Sporting Goods banned the sale of assault-style rifles, and the sale of all guns to anyone under 21. Other retailers followed with similar restrictions, including Walmart, Kroger and L.L Bean.

Vista last year had revenue of $2.5 billion. It is looking for buyers for its Savage and Stevens firearms brands, and other product lines not related to firearms.

Vista Outdoor reported a loss of more than $60 million for the fiscal year that ended March 31st, due in large part to a drop in gun and ammunition sales following the election of Republican President Donald Trump. (AP, Lewiston Tribune)

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