VAN NUYS, CA (BRAIN)—Easton Bell saw a 7.8 percent increase in net sales during the third quarter of 2008, thanks in part to strong sales of cycling equipment, according to an earnings report issued last week.
In the Action Sports segment, which includes Bell, Easton and Giro brands, sales were up 8.1 percent, from $82.7 million in 2007 to $90.8 million for the three-month period ending Sept. 27, 2008. Net sales jumped due to increased sales of cycling helmets and accessories, components, snowsports helmets and eyewear, which helped offset decreased sales of powersports helmets.
Mass channel sales reflected double digit growth and specialty channel sales were up high single digits in the third quarter compared to the third quarter of 2007, the report said.
Year-to-date, Action Sports is up 10.3 percent, or $24.3 million. Overall, Easton Bell reported sales of $203.4 million for the third quarter.
"We are pleased with the company’s third quarter results, which reflect the strength of the brands in our portfolio and their category leadership positions. We remain focused on working capital and cash flow management as we work with our strategic partners during these challenging economic times,” said Paul Harrington, Easton Bell Sports, Inc. president and chief executive officer.
Harrington said the company’s performance would likely be impacted by retail market conditions for the remainder of the year.
For more details on Easton Bell’s third quarter performance, read the December Issue of Bicycle Retailer and Industry News.