Earnings/Financial Reports
NEWMARKET, Ontario (BRAIN)—Bicycle Trade Association of Canada (BTAC) members shipped 14,499 more units to shops last year, a 6.5 percent increase over 2007. Sales revenue rose 9.3 percent over the year.
MILAN, Italy (BRAIN)—Oakley sales helped push its parent company, Luxottica, over the 5 billion euro mark for the first time in its history in 2008 despite a difficult end to the year.
MONTREAL (BRAIN)—Dorel Industries said on Wednesday it had its best ever year in 2008 despite economic challenges in the fourth quarter that left the company sitting on millions of dollars worth of inventory.
BY MATT WIEBE
PHILADELPHIA, PA—The good news for bicycle suppliers is that bikes sold better than cars last year. The bad news is that when gas crossed the $4 a gallon threshold in June, bike sales tanked.
VAN NUYS, CA (BRAIN)—Easton Bell reported a moderate increase in sales in 2008, although the company’s profit dipped slightly.
HEERENVEEN, The Netherlands (BRAIN)—Accell Group posted a 17-percent growth in profits in 2008 due to strong sales of bicycles, a better product mix and the acquisition of Ghost, according to a year-end earnings report released last Friday.
OSAKA, Japan (BRAIN)—Shimano reported an 11-percent jump in sales in 2008, ending the year with $2.59 billion in net sales, according to Shimano’s 2008 earnings as reported to the Tokyo Stock Exchange.
Net income for 2008 was $277 million, or 25.15 billion yen, an increase of 26.4 percent over 2007.
MILAN, Italy (BRAIN)—Oakley’s parent company released net sales figures for 2008 on Thursday, depicting a challenging fourth quarter for the high-end eyewear company even as Oakley remained a bright spot.
LOS ANGELES, CA (BRAIN)—Sport Chalet’s sales decreased to $96.5 million during its second fiscal quarter ending September 28. This sales figure includes seven new stores the company opened compared to its second quarter last year.
PITTSBURGH, PA (BRAIN)—Dick’s Sporting Goods reports that its overall sales were $924.2 million, up 10 percent from its 2007 sales of $838.8 in the third quarter ending November 1.
HEERENVEEN, the Netherlands (BRAIN)—Accell Group raised its projected 2008 profit from an expected 10-percent increase over 2007 to a 15 percent jump based on the company’s performance so far this year.
WESTPORT, CT (BRAIN)—Sales for Fox Racing Shox jumped $10.2 million in the third quarter of the year, helping to boost the bottom line of its parent company, Compass Diversified Holdings.
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