ANOKA, Minn. (BRAIN) — Sales declined 13.6% and gross profit decreased 14.2% in the most recent quarter for Vista Outdoor's Revelyst business unit, which includes its bicycle-related brands. The company continues to negotiate with two potential buyers for its Kinetic Group ammunition business and for the entire business. And its board recently announced it's exploring "a full range of alternatives" for Revelyst.
For Revelyst Adventure Sports, the group that contains Fox Racing, Giro, Bell, CamelBak, Blackburn, and QuietKat, sales were down 12% from the same period last year, to $127 million.
In a statement, Eric Nyman, the co-CEO of Vista Outdoor and CEO of Revelyst, said, "We continue to leverage our portfolio of category-defining Power Brands to win market share despite challenges related to market softness, order timing and divestitures. ... at Fox, Bell, Giro and CamelBak, we are capturing share across numerous categories, including Helmets, Mountain Bike Protection and Bike Hydration despite a declining market environment."
Vista Outdoor's board continues to recommend stockholders vote in favor of a merger agreement with The Czechoslovak Group a.s. (CSG), although it is considering other alternatives. A stockholder meeting to vote on the proposal has been postponed from July 30 to Sept. 13.
"The board is committed to acting in the best interests of the Company and its stockholders," said Mike Callahan, the board chairman. "... We remain as committed as ever on delivering the standard of excellence to our consumers that Vista Outdoor is known for while we continue to conduct our review to uncover the optimal outcome for our stockholders."
Company-wide, Vista Outdoor recorded sales of $644 million in its most recent quarter, the first quarter of its fiscal 2025. That's a 7% decline from the same period last year. Operating income company-wide was $86 million, down 13%. EBITDA was $110 million, down 11%.
