Industry News
SEATTLE (BRAIN) — REI Co-op will sell its newly completed corporate office in Bellevue, Washington, and intends to transition to regional locations while giving employees more remote working options.
MONTRÉAL (BRAIN) — Dorel Sports, a division of Dorel Industries, is reporting sales of $285.6 million in its second fiscal quarter, up 18.5% from the same quarter last year.
SAN FRANCISCO (BRAIN) — The 2020 bike boom is expanding into the micromobility sector with share-bike and share-scooter interest and ridership growing after cities reopened following COVID-19 restrictions.
WASHINGTON (BRAIN) — The Trump administration has extended tariff exclusions it earlier granted to importers of most kids bikes and a few other bike products from China. The importers had been granted a break from a 25% tariff that was due to expire Friday night.
(BRAIN) — Vista Outdoor’s sales in its Action Sports division — which includes Bell, Giro, Kash, Raskullz and Blackburn — were up 7% in the company’s first quarter. Sales in the division totaled $72.9 million for the quarter, compared to $67.9 million last year.
BRASELTON, Ga. (BRAIN) — Fox Factory's bicycle-related sales were up 10% in its second fiscal quarter, which ended July 3.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. reported a 54.1% revenue drop in the second quarter ending June 30.
Revenue was $134.2 million, compared with $292.4 million in the second quarter of 2019. Net income was $40.7 million, compared with $102.1 million year-over-year. Earnings per share were $0.34.
WASHINGTON (BRAIN) — President Donald Trump on Tuesday signed into law the Great American Outdoors Act that will provide millions of dollars annually for trail maintenance and creation on federal lands.
GENEVA (BRAIN) — The International Organization for Standardization published its 10th specification for e-bike manufacturing safety, this one addressing requirements and testing methods for motors and electrical systems.
STEAMBOAT SPRINGS, Colo. (BRAIN) — Former Smartwool executive and SBT GRVL co-founder Mark Satkiewicz died of suspected cardiac causes while cycling near his home on Saturday. He was 52.
WASHINGTON, D.C. (BRAIN) — Many importers of Chinese bike products will see costs increase by 25% as tariff exclusions are expected to expire August 7.
LAKE OSWEGO, Ore. (BRAIN) — Richard Everett, founder of Kool Stop International who led a quiet revolution in the manufacturing of rim brake pads, has died. Gene Smith, Everett's partner for more than 40 years, said the 76-year-old entrepreneur's "... heart simply gave out."
OLATHE, Kan. (BRAIN) — Garmin Ltd. reported a 9% year-over-year revenue decrease in the second quarter, but gains in the fitness sector helped mitigate the losses.
OSAKA, Japan (BRAIN) — Shimano reported Tuesday that its first-half sales in its bicycle products division were down 14.6% from the same period last year, to 123 billion yen ($1.2 billion); operating income in the segment was down 19.7%.
DENVER (BRAIN) — A Colorado business is offering short term rentals of fully outfitted overlanding vehicles for visitors and locals who want to go offroad camping with all the toys, including bikes.
HEERENVEEN, Netherlands (BRAIN) — Accell Group saw sales growth of 53.1% in June, helping the Dutch bike company record a first-half sales increase of 4% despite European retail shutdowns in March and April.
MONTRÉAL (BRAIN) — Race Inc., a brand that dates to the early days of BMX, has a new owner who plans to return it to prominence in the sport.
FRAMINGHAM, Mass. (BRAIN) — In the middle of a national discussion about the role of police departments in systemic racism, Brandale Randolph, a Black entrepreneur and activist, is raising money to manufacture high-tech police bikes in the United States.
STOCKHOLM (BRAIN) — MIPS' net sales dipped 20% in the second quarter with the losses blamed on the COVID-19 pandemic and subsequent stay-at-home orders.
WASHINGTON (BRAIN) — The House of Representatives on Wednesday passed the Great American Outdoors Act that will provide millions of dollars annually for trail maintenance and creation on federal lands.
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