Business Corpus: Vista Outdoor Eyes Exit From Gun Trade After First Quarterly LossVista Outdoor announced Tuesday that it explore the sale of its gun brands amid slowing firearms demand and backlash after the Parkland, Fla., school shooting earlier this year. The post Vista Outdoor Eyes Exit From Gun Trade After First Quarterly Loss appeared first on Investor's Business Daily.

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Vista Outdoor (VSTO) announced Tuesday that it explore the sale of its gun brands amid slowing firearms demand and backlash after the Parkland, Fla., school shooting earlier this year.

In addition to its Savage and Stevens gun lines, Vista is also open to selling off its Bell bike helmets and Jimmy Styks paddle boards. But it will still keep its bullets business.

The company said selling off its noncore businesses will allow it to " invest more capital to further enhance and expand our global leadership position."

"Our review identified product categories that are core to the company's long-term business strategy," CEO Chris Metz said in a statement. "Vista Outdoor is excited about the potential of each of our core businesses, particularly ammunition, which is our largest core business."

The company will also focus on hunting and shooting accessories, hydration bottles and packs, and outdoor cooking products.

Also Tuesday, Vista reported its first quarterly loss since going public in 2015. On a per-share basis, the company swung to a loss of 22 cents, worse than views for a loss of 14 cents, from a year-ago profit of 3 cents. Revenue dipped 1% to $571 million but beat analyst estimates for $521 million.

Vista shares sank 13% to finish at 14.56 on the stock market today. Gunmaker Sturm Ruger (RGR) rose 1%, and American Outdoor Brands (AOBC), the holding company of Smith & Wesson, dipped 0.1%.

The move to explore offloading its gun business, comes as companies look to distance themselves from gun sales and the NRA in the wake of the school shooting in Florida that left 17 dead.

In February, Dick's Sporting Goods (DKS) announced that it would stop selling assault-style rifles and high-capacity magazines in its stores and pushed for gun control measures from Congress. Kroger (KR) and Walmart (WMT) raised the gun sale age to 21, regardless of state laws.

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The post Vista Outdoor Eyes Exit From Gun Trade After First Quarterly Loss appeared first on Investor's Business Daily.