Vista Outdoor reports ‘solid’ quarter following eyewear brands sale

Camelbak, Bell, Giro and Blackburn owner Vista Outdoor has seen sales and profits dip in its Q2 financials (period ended 30 September 2018).

Sales were down 7% from the prior year quarter, to $549 million. Gross profit also fell, down 22% on the prior year quarter by $109 million.

Vista Outdoor CFO Mick Lopez called the quarter ‘solid’, exceeding sales expectations despite market challenges.

In the same quarter, Vista Outdoor sold its eyewear brands (including Bollé, Serengeti and Cébé ) for $158 million, with most of the cash going towards paying down $143 million of debt.

Despite stating earlier this year that the sale of its cycle brands was on the agenda, including Giro, Bell and Blackburn, there was little indication that had moved forwards. The move was originally mooted following a tragic school shooting in Florida, with calls for boycotts of companies backing the National Rifle Association. However Vista has since said that the plan to sell the cycle brands has been in the works prior to the controversy.

 

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