By Jason Norman
WATERLOO, WI—Material and manufacturing costs are up and the dollar’s down dealing a double whammy to bike suppliers. Unable to absorb the costs any longer, most say they are raising bike prices 3 to 5 percent, on average.
BOULDER, CO—Jeff Bailey has seen sales decline yearly since 2006. So when he closed the year up, on the heels of a whopping 33 percent jump in December, he was ecstatic.
MONTEREY, CA (BRAIN)—James Oberstar, the former Minnesota Congressman who successfully worked for 30 years to dramatically increase federal support for bicycling, will be a key panelist at the 2011 Bicycle Leadership Conference.
Still, the company posted an 11 percent rise in net profit due to tax benefits and lower interest charges.