Press Releases

ANOKA, Minn. — Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, on Wednesday joined other outdoor industry stakeholders to lobby Congress for a retroactive renewal of the Generalized System of Preferences (GSP). This program, which expired on Dec. 31, 2020, promotes economic development by eliminating duties on thousands of products when imported from one of 119 designated beneficiary countries and territories.

Vista Outdoor was one of several outdoor industry stakeholders participating in the Coalition for GSP’s Congressional Lobby Day. Industry executives and officials urged key members of Congress, representing both political parties, to renew GSP and refund more than $2.5 billion in extra tariffs paid by American businesses.

GSP incentivizes U.S. companies to diversify their supply chains away from China and simultaneously boosts the economic development of developing countries that otherwise may fall under the influence of other global adversaries. Moreover, the expiration of GSP has driven inflation, which passed roughly an additional $7.5 billion in costs for GSP goods onto consumers at the retail level. Since GSP expired more than two years ago, the government owes $2.5 billion to U.S. companies as part of the GSP refund, with $1.6 billion of that total owed to outdoor businesses.

“Congressional inaction on GSP is driving up inflation, taxing outdoor recreation and making it harder to diversify supply chains away from China,” said Fred Ferguson, Vice President of Public Affairs and Communications, Vista Outdoor Inc. “By retroactively renewing GSP, not only will the outdoor industry benefit, but so will the nations with whom we partner on manufacturing and, perhaps most importantly, all American consumers of outdoor apparel and gear. It’s truly a win-win-win, which is why Vista Outdoor strongly supports retroactively renewing the GSP program.”

Ferguson along with David Stokoe, Vice President Strategic Procurement and head of the company’s Supply Chain Center of Excellence, which oversees procurement and supply chain efforts across the company’s portfolio, represented Vista Outdoor at Lobby Day. They joined communications, trade and supply chain officials from various outdoor companies and associations to share the myriad ways GSP renewal would benefit the industry and consumers alike.

GSP has enabled Vista Outdoor and other global companies to diversify their supply chains and reduce the risks associated with producing in the developing world, which generally lacks the infrastructure, capacity, skillset, raw materials and labor pool to sufficiently compete with China. The expiration of GSP challenges this progress, and the lack of certainty further pressures a supply chain already challenged by the recent global pandemic and unsteady economic environment.

Click here to learn more about the Coalition for GSP, its March 2023 Lobby Day and ways to support the ongoing effort.

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About Vista Outdoor Inc. 
Vista Outdoor (NYSE: VSTO) is the parent company of more than three dozen renowned brands that design, manufacture and market sporting and outdoor products. Brands include Bushnell, CamelBak, Bushnell Golf, Foresight Sports, Fox Racing, Bell Helmets, Camp Chef, Giro, Simms Fishing, QuietKat, Stone Glacier, Federal Ammunition, Remington Ammunition and more. Our reporting segments, Outdoor Products and Sporting Products, provide consumers with a wide range of performance-driven, high-quality and innovative outdoor and sporting products. As Vista Outdoor announced in 2022, the company is separating its Outdoor Products and Sporting Products segments into two independent, publicly traded companies. That plan is on track to happen in calendar year 2023. For news and information, visit our website at www.vistaoutdoor.com.