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Home News

Vista Outdoor Projects Declining Sales in Q2, Announces Plan to Sell Sporting-Products Business

by Myfxtools
October 16, 2023
in News
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Shares of Vista Outdoor have plunged after the company announced that it expects declining sales in the fiscal second quarter and revealed plans to sell its sporting-products business in a $1.91 billion deal.

Decline in Stock and Sale of Sporting-Products Business

The stock has experienced a significant drop of 19% and is currently valued at $26.50 in premarket trading. Despite this setback, shares had previously shown promise with a year-to-date increase of one-third when the market closed on Friday.

Vista Outdoor, the parent company of numerous renowned sporting and outdoor product brands, has confirmed that it will sell its sporting-products segment to Czechoslovak Group, a Czech industrial-technology firm. This all-cash deal prices the business at an enterprise value of $1.91 billion.

Separating Outdoor-Products and Sporting-Products Units

This sale is part of Vista Outdoor’s strategic plan to separate its outdoor-products and sporting-products units.

Challenging Environment and Expectations for Q2 Sales

Vista Outdoor also anticipates a decrease in sales for both its sporting-products and outdoor-products businesses.

The company states that sales in the sporting-products sector are forecasted to decline to a range of $347 million to $352 million over the three months ending on September 24. This outlook is attributed to a challenging environment for consumers and market normalization.

Furthermore, Vista Outdoor projects that its outdoor-products company will see sales decrease to a range of $325 million to $330 million. This is a result of cautious inventory levels from channel partners and the strain of high interest rates affecting consumer behavior.

Final Results and Conclusion

Vista Outdoor intends to reveal its final results for the fiscal second quarter on November 2.

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Tags: Czechoslovak Groupsales declinesporting-products businessVista Outdoor
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