Headlines

Utah Company to Sell Off 3 Eyewear Brands

Published

6 years ago

November 10, 2017

They’re ‘not core to our business.’

FARMINGTON, UT — Vista Outdoor Inc. plans to sell off the Bollé, Serengeti and Cébé brands, which are part of its Sports Protection business, amid flagging financial performance.

The sale of the brands “is expected to take place over the next few quarters,” said Chris Metz, CEO of Vista (NYSE: VSTO).

He noted that the brands focus on fashion, prescription and safety eyewear, “which are areas that we have determined are not core to our business.”

“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,” Metz said. “We will take an aggressive position on profit improvement through both margin expansion and cost reductions across all areas of the core business.

“We’re in the process of completing a portfolio review of our brands, and we will divest assets where we see the potential to unlock shareholder value.”

The company’s second-quarter sales totaled $587 million, down 14 percent from the prior-year quarter. Vista reported a loss of $115 million for the quarter.

Crizal® Sapphire™ HR: Invisible Shield of Protection

Your patients’ main concerns of anti-glare, scratch resistance, and easiness to clean are covered. Crizal Sapphire HR, the latest and most advanced product in the Crizal No-Glare range, is now widely available across lab networks and through all major managed vision care providers. Crizal Sapphire HR is available with Essilor’s advanced lens designs such as Varilux® progressive lenses and Eyezen® enhanced single vision lenses. Click here to learn more. *External laboratory tests and internal technical tests – 2020. Compared to the competitor most known lens-brands by consumers (2019 external brand tracking in 11 countries). The word ’overall’ refers to anti-reflective coatings important criteria, ranked through an external quantitative consumer study – 2019.