Industry News
NEW YORK (BRAIN) — Emerald Holding, Inc. had revenues of $122.3 million for the first quarter of 2023, an increase of 24.2% over the same period last year. Net income was $7.1 million for the quarter, compared to $16.1 million for the first quarter of 2022.
DENVER (BRAIN) — Capo Cycling Apparel has been acquired by industry veteran Zach Spinhirne-Martin from its founders, Robert Carbone and Gary Vasconi.
Capo, founded in 2004, is a U.S.-based brand that sells Italian-made apparel.
DULUTH, Ga. (BRAIN) — Fox executives said the decline was a return to seasonality after several years of pandemic-driven demand for its Speciality Sports Group products.
Boulder, Colo. - May 4, 2023 – Outside Interactive, Inc., the world’s leading creator of active lifestyle content, services, events, and experiences, announced the launch of a new cycling media product, Velo, at an industry webinar today.
ANOKA, Minn. (BRAIN) — Vista Outdoor’s Action Sports business unit recorded net sales of $496 million in its most recent fiscal year, a 23% increase from the prior year.
OLATHE, Kan. (BRAIN) — Garmin Ltd. first-quarter revenue decreased 2% year-over-year despite its Fitness segment revenue increasing 11%.
SAN FRANCISCO (BRAIN) — A bike rider is suing Rad Power Bikes here in superior court claiming his Rad Runner Plus e-bike caused him to fall and sustain injuries and property damage.
STOCKHOLM (BRAIN) — Thule Group's first-quarter net sales were down 26.6% year-over-year, largely due to declining bike-product demand from retailers lowering inventory levels.
SEATTLE (BRAIN) — Rad Power Bikes laid off an undisclosed number of employees, its fourth round of workforce reductions in a year.
OLYMPIA, Wash. (BRAIN) — Washington state is poised to become the eighth state to approve rebates or incentives for purchasing e-bikes, an important tool to get more people out of cars and onto bicycles for climate, equity, and sustainability goals.
DAYTON, Ohio (BRAIN) — Longtime industry professional Bob Stomel died Tuesday. He was 59. Stomel's 45-year career began working in a local bike shop in Philadelphia and concluded with him as director of sales for Huffy Corp.
MONTEREY, Calif. (BRAIN) — Speaking at the recently concluded Sea Otter Classic Summit, John Bastian is bullish on the long-term prospects for the global bicycle industry. But he's cautious on its short-term prospects as world events roil the marketplace.
EL PASO, Texas (BRAIN) — Helen of Troy fourth-quarter net sales decreased 16.7% year-over-year. The parent company of Osprey and Hydro Flask also reported its yearly net sales declined 6.8%.
CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, Inc., the owner of the Sea Otter Classic and other cycling events, saw a 30% revenue increase, year-over-year, in the first quarter.
STOCKHOLM (BRAIN) — MIPS' net sales decreased 35% year-over-year in the first quarter as bike helmet demand continued to wane.
SEATTLE (BRAIN) — Rad Power Bikes will work with Redwood Materials to recycle the brand's end-of-life lithium-ion batteries.
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%.
NEW YORK (BRAIN) — N.Y. Sens. Chuck Schumer and Kirsten Gillibrand said during a news conference Sunday that they support federal legislation to regulate lithium-ion battery safety standards in the wake of increasing fires caused by the devices.
MONTEREY, Calif. (BRAIN) — Italy's Limar is now selling its helmets and eyewear to U.S. retailers and consumers from an office in Ketchum, Idaho. The brand has certified its complete helmet line to the U.S. CPSC standard and is looking to establish its mid- to upper-tier offerings in the U.S. market.
MONTEREY, Calif. (BRAIN) — Saris, which is under new ownership since it was purchased from a Wisconsin state receivership program last year, was showing off several new rack products and its stationary trainers at the Sea Otter Classic this week.
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