Vista Outdoor Ammo Sales Shoot Higher on Booming Firearms Market
With firearms sales this year obliterating all previous records, it's not surprising ammunition maker Vista Outdoor (NYSE: VSTO) saw sales jump in the fiscal second quarter.
On Thursday, the ammo and outdoor gear maker reported consolidated revenue jumped 29% higher as shooting sports sales, the bulk of which is ammunition, jumped 26% to $380 million. Because outdoor product sales also surged 35% to $195 million as people sought out entertainment activities that allowed them to socially distance, Vista notched an especially robust quarter even in the midst of a pandemic.
Image source: Getty Images.
Source Fool.com
