Ammo sales have surged for Vista Outdoor and Olin Corp. during the Covid-19 pandemic as fears of coronavirus and civil unrest prompt Americans to buy guns and bullets. Vista Outdoor CEO Chris Metz said in an earnings call Thursday that strong ammunition sales in the last quarter were driven by an industry-wide 40% increase in first-time gun buyers during the pandemic, including women and people of color, based on data from he NSSF gun industry group. He said that ammo demand is so brisk, and fueled in part by stockpiling, that some new buyers have complained that they can’t find enough ammo in stock. Vista Outdoor’s stock price surged 18% on the news, though Olin’s stock price dipped 6%, with a weak performance from its chemical sales overshadowing its strength in ammo. Anoka, Minn.-based Vista Outdoor, which makes dozens of outdoor and shooting products, including CamelBak hydration packs used by hikers and soldiers, Bell bicycle helmets, Bushnell rifle scopes and several brands of ammo, on Thursday reported an 8% rise in sales last quarter compared to a year ago, “driven by continued consumer trends towards personal protection” as well as a “resurgence in outdoor recreation activities.” Brett Andress, analyst for KeyBanc Capital Markets, said in an investor note that Vista Outdoor earnings results beat “heightened expectations” driven by organic sales growth of 17% in the shooting sports category. Federal background checks for gun purchases totaled 3.64 million in July, the third-largest monthly tally since the Federal Bureau of Investigation started tracking background checks in 1998. Gun analysts and retailers attribute the boon to buyers arming themselves because of fears of civil unrest during the pandemic. The FBI reports nationwide tallies for background checks every month. These checks are not the same as gun sales, but they serve as the closest nationwide proxy.  [full article]