Earnings/Financial Reports
STOCKHOLM (BRAIN) — MIPS' net sales decreased 35% year-over-year in the first quarter as bike helmet demand continued to wane.
OSAKA, Japan (BRAIN) — Shimano's first-quarter net income in its bike division fell 16.8% from last year, while its operating income in the segment was down 31.8%.
SEATTLE (BRAIN) — REI Co-op reported a record $3.85 billion in sales in 2022, an increase of 3.2% year-over-year. It released its financial results and impact report Wednesday.
AMSTERDAM (BRAIN) — Pon Holdings revenue increased 23% year-over-year to reach $10 billion euros ($10.9 billion) for the first time in company history, while Pon.Bike revenue was 2.4 billion euros ($2.62 billion).
SCOTTS VALLEY, Calif. (BRAIN) — Sources at Bell and Giro tell BRAIN that the Vista Outdoor brands made significant staff layoffs this week, especially in the marketing, brand, and creative departments.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation recorded record revenue for 2022 despite a fourth-quarter losses of 53%. The protective gear brand reported full-year revenue of $76.3 million, up 5% year-over-year.
REICHSHOF, Germany (BRAIN) — The privately-owned company that owns the tire brand Schwalbe is reporting 2022 sales of 335 million euros ($359 million), up 20% from the year prior. It was a new company sales record in its 50th anniversary year.
TAICHUNG, Taiwan (BRAIN) — Giant Group's revenue was up 12.5% last year, to NT$92.04 billion ($2.99 billion) up from NT$81.8 billion in 2021.
(BRAIN) — Life Time Group Holdings, which owns multiple endurance bike events and the Sea Otter Classic, reported revenue of $1.8 billion for its fiscal year 2022, up nearly 38% from the year prior.
PITTSBURGH (BRAIN) — Dick's Sporting Goods reported record full-year 2022 net sales while fourth-quarter sales grew 7.3% year-over-year.
DULUTH, Ga. (BRAIN) — Fox Factory sales were up 23.4% last year, to a company record of $1,602.5 million. Sales in Fox's powered vehicle business was up 28% while sales in its specialty sports business, which comprises its bicycle brands, were up 17.6% for the year.
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 6% year-over-year in the fourth quarter and 2% for 2022 as its Fitness products division experienced the biggest decline of all the company's segments.
TOYKO (BRAIN) — Shimano is forecasting a company-wide 20.5% drop in net sales for its fiscal 2023, citing global economic conditions and supply chain disruptions. It's forecasting bike division sales will be down 23%.
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