Earnings/Financial Reports
MONTREAL, Quebec (BRAIN)—Dorel Industries executives reiterated their goal of becoming a global leader in the bicycle industry while speaking to shareholders during the company’s annual general meeting on Wednesday morning.
OSAKA, Japan (BRAIN) — Shimano, whose overall sales fell 19 percent during the first quarter, reports that its bike business—78 percent of its total sales—fell 18 percent to $373 million (JPY 35.3 billion) from $456 million (JPY 43.3 billion) last year.
PHILADELPHIA, PA (BRAIN)—More American customers turned to European style hybrid bikes than ever before, driving Bicycle Product Supplier Association unit shipments up 2 percent, and sales up 4 percent over the first quarter.
PITTSBURGH, PA (BRAIN)—Dick’s sales hit $959.7 million during the first quarter compared with $912.1 million last year. However, same store sales dropped 6 percent.
VAN NUYS, CA (BRAIN)—First quarter sales were down 5.2 percent in Easton Bell Sports’ Action Sports segment as the company contended with delays of shipments of OEM cycling components to bike manufacturers and slow sales of fitness equipment in the mass channel.
WASHINGTON D.C. (BRAIN)—Suppliers, reacting to the nation’s recession, brought in the fewest bicycles in the first quarter of the year since 1998. However, the dollar value of all units is the second highest in the same 11 years, said Jay Townley, an industry consultant.
OSAKA, Japan (BRAIN)—Shimano’s sales were down, but the company still managed to increase its net profit by 3 percent over its first quarter ending March 31, 2009.
WESTPORT, CT (BRAIN)—Fox Racing Shox reported a 14.2 percent decline in first quarter sales due to slow OEM orders in its bike division, according to earnings reports released on Friday.
MILAN, Italy (BRAIN)—Oakley sales were up 7 percent in the first quarter of 2009, even as its parent company, Luxottica, faced a challenging period.
MONTREAL, Quebec (BRAIN)—Dorel’s IBD brands were a bright spot in the company’s bike division during the first quarter of 2009, posting 8 percent organic growth during the first three months of the year.
HEERENVEEN, the Netherlands (BRAIN)—Accell Group saw a good start in the first quarter of the year as sales and profit both increased from 2008, according to René Takens, chairman of the executive board of Accell Group.
WESTPORT, CT (BRAIN)—Fox Racing Shox reported net sales of $131.7 million in 2008, up from $105 million the year before, according to earnings released on Friday by its parent company, Compass Diversified Holdings, Inc.
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.
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