Vista Outdoor Announces Big Changes Made for the Company
OutdoorHub Reporters 11.10.17
Vista Outdoor, a leading global designer, manufacturer and marketer for your favorite outdoor brands, announced this week some changes made to it’s staff, inventory, and product offerings.
These changes, made by newly appointed Chief Executive Officer Chris Metz – former president of Arctic Cat – were made in an ongoing effort to combat downward trending market conditions.
“I am excited to combine my passion for these brands and this industry with my professional experience and deep background in consumer products,” stated Metz as reported in Vista’s regulatory filing.
“While I’ve only been here a short time, I realize we have much to do: we must make significant changes, act decisively, and move quickly to reposition and stabilize the company. We will take an aggressive position on profit improvement through both margin expansion and cost reductions across all areas of the core business.”
A handful of Vista’s brands include: Savage Arms, Bushnell (and Bushnell Golf), Primos Hunting, Federal Premium, and CamelBak.
Chief Financial Officer Stephon Nolan was also quoted in Vista’s regulatory filing, saying:
“Ongoing promotional activity combined with high inventory trends in our wholesale channels contributed to a challenging quarter. The company remains focused on cost-savings initiatives and working on capital improvements. I’m pleased with the significant reductions to company inventory levels we have made, both year over year and sequentially.”
“We just completed another workforce reduction to better align production with demand. Nolan continued. “The company generated cash at a level that is higher than our historic average, and we continue to build out our e-commerce strategy and invest in new, innovative products.”
Overall, it sounds like Vista is staying optimistic for improved market conditions for 2018.
