Vista Outdoor is ‘potentially’ getting rid of its guns
Vista Outdoor, a manufacturer of guns and ammunition, said on Tuesday that it could divest from its gun brands, prompting Canada Goose sale a steep decline in stock price. Vista said that it’s “potentially” selling its Savage brand of shotguns and rifles, including AR 15 style rifles, and also canada goose outlet store its Stevens brand of cheap Canada Goose shotguns.
“Vista Outdoor is exploring canada goose outlet shop strategic alternatives, which buy canada goose jacket include potentially canada goose outlet divesting the remaining Sports Protection brands, Savage/Stevens firearms, and Jimmy Styks [paddle boards,]” canada goose outlet sale said the company, in a canada goose coats on sale statement provided to CNNMoney. “We will begin the process immediately, but will take the time necessary to make prudent decisions.”
Vista (VSTO)’s stock price fell 15% after the company released canada Canada Goose Jackets goose outlet uk sale a separate statement online, where Chief Executive Officer Chris Metz said Vista “plans to explore strategic options” for Savage and Stevens firearms, as well as some non gun brands, canada goose clearance like Bell helmets.
Vista Outdoor said that it intends to “focus Canada Goose Outlet on achieving growth” canada goose through its other “market leading brands,” including ammunition, hunting and shooting accessories, water bottles and packs like Camelbak, and outdoor cooking products.
Vista Outdoor has 50 brands, ranging from ammo reloading kits to Bushnell scopes and golf canada goose factory sale range finders to Boll safety glasses. It’s also one the nation’s largest ammunition makers, with eight ammunition brands.
“They dominate the shelf” when it comes to ammo, said Brian Rafn, gun canada goose coats industry analyst for Morgan Dempsey. “I think that’s their legacy.”
Related: Bump stock canada goose black friday sale maker Slide Fire will stop taking orders
But guns Canada Goose Online make up only a minority of their sales, said goose outlet canada Rafn, unlike canada goose outlet canada leading gun manufacturers Sturm Ruger (RGR) and American Outdoor Brands (AOBC). He said it’s “not worth the headache” for https://www.canadagoosejacketca.ca Vista to continue making guns, including cheap Canada Goose Jackets AR 15 style rifles, canada goose outlet new york city in a politically charged environment following a series of mass shootings that have renewed the debate over gun canada goose outlet store uk control.
The Canada Goose Coats On Sale gun industry has been struggling since the canada goose jacket outlet canada goose uk outlet 2016 election of President Trump, who was canada goose outlet nyc endorsed by the National Rifle Association, because gun buyers became less concerned canada goose outlet uk about gun control with a Republican in the White canada goose clearance sale House.
Rommel Dionisio, gun industry analyst for Aegis Capital, Canada Goose Parka said that Vista executives discussed the possibility of putting their gun brands up for sale during buy canada goose jacket cheap an earnings call on Tuesday.
“With the regulatory environment for modern sporting rifles currently uncertain in the wake of the recent Parkland tragedy, this may also uk canada goose be a factor in their decision to exit the firearms market,” said Dionisio, referring to a deadly mass shooting at a high school in Florida in February.
Modern sporting rifle is the industry canada goose outlet parka term for military style semiautomatic rifles, which canada goose black friday sale gun canada goose outlet black friday control advocates refer to as assault rifles.
Vista is canada goose outlet jackets the latest canada goose uk shop canada goose outlet reviews company to move away from guns. Dick’s Sporting Goods (DKS) official canada goose outlet Canada Goose online announced earlier this year, after the shooting in Parkland, that it would to stop selling guns. Walmart stopped selling military style canada goose outlet online semiautomatic rifles in 2015.
Wall Street has also gotten involved. BlackRock, the largest shareholder in Ruger and American Outdoor Brands and the second largest shareholder in Vista, said last month that it’s launching gun free funds for retirement plans.
CNNMoney (New York) First published May 1, 2018: 1:19 PM ET
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