VAN NUYS, CA (BRAIN)—Easton-Bell Sports reported double-digit growth in sales of Easton-branded wheels and components during the third quarter. Sales of its Giro cycling shoes were also strong, the company said in its latest earnings report.
Still the growth wasn’t enough to offset a decline in Easton-Bell’s Action Sports segment. Net sales decreased $0.5 million to $100 million or 0.5 percent in the third quarter of fiscal 2011 compared to the same period in 2010. The company attributed the drop to slow snow helmet sales in Europe caused by high inventory of last year’s models still at retail.
Sales from the Action Sports division include the company’s cycling and snow sports businesses, and represent 47 percent of Easton-Bell’s overall quarterly sales. But the company doesn’t break out its bike sales.
Meanwhile, gross margin for the quarter climbed slightly to 35.6 percent, compared to 35 percent last year. Easton-Bell said two factors drove the margin gain: a strong sales mix of football helmets and increased sales of higher margin cycling helmets.