Earnings/Financial Reports
PITTSBURGH (BRAIN) — Dick's Sporting Goods reported net sales increased 3.6% year-over-year in the second quarter and after an organizational review eliminated some customer support center jobs on Monday.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation's second-quarter revenue decreased 31% year-over-year despite mountain bike and moto helmet sales increasing 48% compared with the same time last year.
TAIPEI, Taiwan (BRAIN) — Giant Group said the China market's interest in performance cycling drove a 70% sales increase in the half there. However, sales for Giant-branded products in Europe were down 12% in the half, and in the U.S., they were down 44%, the company reported.
OLATHE, Kan. (BRAIN) — Led by the Fitness segment's double-digit revenue growth, Garmin Ltd. second-quarter revenue increased 6% year-over-year.
(BRAIN) — Sales in Fox Factory's Speciality Sports Group, comprised of its bicycle-related brands Fox, Marzocchi, RaceFace and Easton, were down 41% in the company's second quarter. The company said the decrease was "driven by higher levels of inventory across various channels."
SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue declined 3.9% year-over-year despitethe company's return to pre-pandemic pricing in the second quarter and retail-channel revenue growth of 6%.
CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the parent of bike events including the Leadville 100, the Sea Otter Classic and Unbound Gravel, reports that revenue in its "other" category was up 25.7% in the first half of the year.
ANOKA, Minn. (BRAIN) — In its most recent quarter, Vista Outdoor recorded an 8% sales increase in its Outdoor Products business unit, which encompasses Bell, Giro, Fox Racing, Blackburn, QuietKat, and CamelBak, among other brands. Much of the increase, however, was due to acquisitions — including Fox Racing.
OSAKA, Japan (BRAIN) — Shimano says interest in bicycles globally continues as a long-term trend, but that macro-economic conditions and industry inventory levels contributed to a 17.7% decline in sales in its bike business in the second quarter this year, compared to the same period last year.
STOCKHOLM (BRAIN) — Continuing decreased bike helmet demand contributed to MIPS' net sales declining 51% year-over-year in the second quarter.
STOCKHOLM (BRAIN) — Thule Group's second-quarter net sales decreased 8.6% year-over-year with the company seeing a sales decline in bike-related products in its Americas region. Net sales for the quarter ending in June were SEK 3,029 million ($296 million) compared with SEK 3,314 million at the same time last year.
EL PASO, Texas (BRAIN) — Helen of Troy reported net sales for the first quarter fell 6.6% year-over-year with the Home & Outdoor group, which includes brands Osprey and Hydro Flask, declining 7.3%.
BERLIN (BRAIN) — E-commerce company Signa Sports United, owner of WiggleCRC and the Vitus and Nukeproof bike brands, reported a 2% decline in first-half revenue, saying "subdued demand and market overstock" weighed on its results.
Its first-half net revenue was 441 million euros ($480 million).
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