Vista Outdoor’s sales down 6.5% organically in its outdoor products division

By Stephen Frothingham

FARMINGTON, Utah (BRAIN) — Vista Outdoor’s sales in its Outdoor Products division — which includes Bell, Giro, CamelBak and Bollé sales — were down 6.5 percent organically in the first quarter. Only the addition of sales from newly acquired Camp Chef drove the division’s non-organic sales up to $290 million in the quarter, 0.9 percent up from the same quarter last year.

The company said the organic sales decline was driven by sales decreases across most of its brands. Organic profit was down 13.5 percent.

In June the company let go about 57 employees, including several employees at Bell, Giro and Bollé. CEO Mark DeYoung stepped down in July and Michael Callahan, Vista Outdoor’s lead independent director, has been named Interim Chairman and CEO.

Vista Sport’s Shooting Sports division saw a 18.7 percent decline in the quarter, with sales totaling $279 million, down from $343 million last year.

The company reaffirmed its guidance for the full year of sales in the range $2.36-$2.42 billion.

Operating expenses were $107 million, compared to $112 million last year. Fully diluted earnings per share was 29 cents, compared to 48 cents last year quarter. Adjusted EPS was 24 cents, compared to 48 cents.

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Via:: Bicycle Retailer and Industry News