Earnings/Financial Reports
WASHINGTON, D.C. (BRAIN)—The Made in USA sticker is giving exporters of kids' bikes a good year so far as shipments reached 14,606 juvenile bikes through June, an increase of 19 percent.
VAN NUYS, CA (BRAIN)—Sales in Easton Bell Sports’ Action Segment, which includes its cycling division, fell 2.3 percent in the second quarter of 2009 as OEM cycling component purchases declined due to soft demand for high-end bikes, according to Paul Harrington, president and chief executive officer of Easton Bell.
WASHINGTON, D.C. (BRAIN)—Whatever the reason, weather or the economy, suppliers did not find parents buying kids' bikes this year. Imports of sidewalk bikes with wheel sizes under 20-inches fell 9 percent through June, while imports of 20- and 24-inch bikes were down 32 percent.
MONTREAL, Quebec (BRAIN)—The chief executive officer of Dorel Industries said on Wednesday that the company would sell Iron Horse branded bicycles in the sporting goods channel starting next year.
PHILADELPHIA, PA (BRAIN)—Strong sales gains during the first quarter were erased as sales fell by 2 percent through June, and shipments lagged 8 percent, according to the Bicycle Product Suppliers Association (BPSA) June sales report.
WESTPORT, CT (BRAIN)—Fox Racing Shox saw a sales decline in the first half of the year as OEM suspension business slowed amid the economic downturn.
Compass Diversified Holdings, parent company of Fox, spoke about Fox’s performance during a conference call with analysts on Monday morning.
TAIPEI, Taiwan (BRAIN)—Sales data for the month of July for three of Taiwan’s largest bicycle manufacturers is a mix of news, according to data from the Taiwan Stock Exchange.
OSAKA, Japan (BRAIN)—Shimano felt the pinch from the global economic recession in the first half of 2009 as a sharp drop in personal consumption led to lackluster sales in both the bicycle components and fishing divisions.
HELSINKI, Finland (BRAIN)—Mavic’s sales declined 15 percent in local currencies for the first six months of the year, according to earnings report released Thursday by Mavic’s parent company, Amer Sports.
MILAN, Italy (BRAIN)—Luxottica sales were up 3.5 percent in the second quarter due in large part by the performance of Ray-Ban and Oakley.
HEERENVEEN, The Netherlands (BRAIN)—Accell Group reported a 15-percent jump in profit for the first half of 2009, as demand for electric bikes boosted the Dutch company.
MONTREAL, Quebec (BRAIN)—Dorel Industries executives reiterated their goal of becoming a global leader in the bicycle industry while speaking to shareholders during the company’s annual general meeting on Wednesday morning.
OSAKA, Japan (BRAIN) — Shimano, whose overall sales fell 19 percent during the first quarter, reports that its bike business—78 percent of its total sales—fell 18 percent to $373 million (JPY 35.3 billion) from $456 million (JPY 43.3 billion) last year.
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