Vista Outdoor Cuts Guidance on Walmart, Plans More Divestitures
VSTO expects a top line hit of about $40 million in the current fiscal year ending Mar. 31, 2020, from Walmart’s decision to stop selling some ammunition calibers, and revised its revenue guidance down to $1.75 to $1.85 billion from the previous range of $1.79 to $1.89 billion. However, the items Walmart is cutting are not especially profitable, and the company still expects to be able to reach its adjusted earnings per share target of $0.10 to $0.25 per share ($10 million at the midpoint), though it will still have a nine-digit GAAP loss from impairment charges. Vista will maintain ... Log in to view full article.