Industry News

Leatt Corp. continued its record-setting financial year.

CAPE TOWN, South Africa (BRAIN) — Leatt Corp. continued its record-setting financial year with second-quarter revenue increasing 32% year-over-year with net income spiking 815%.

Tagged Earnings/Financial Reports
REI Co-op will put its new corporate office up for sale.

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.

The parent of Cannondale, GT, Schwinn, and other brands notched its fifth consecutive quarter of growth.

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.

Tagged Earnings/Financial Reports
Now it's up to the cities.

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.

Kids bikes from China will get a break from the trade war tariffs until Dec. 31, but some other products will see an extra 25% tariff again starting midnight Friday.

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.

Tagged Tariffs

(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.

Tagged Earnings/Financial Reports
"It's a bit of a bike renaissance we are experiencing," CEO says.

BRASELTON, Ga. (BRAIN) — Fox Factory's bicycle-related sales were up 10% in its second fiscal quarter, which ended July 3.

Tagged Earnings/Financial Reports
Entrepreneur, philanthropist, NFL linebacker, and explorer will advise the leading creator of active lifestyle content as they grow and diversify their business

BOULDER, Colo. (BRAIN) — Pocket Outdoor Media, the leading endurance sports media platform, today announced that Dhani Jones, founder of BowTie Cause and Chairman of Qey Capital, has been elected to its board of directors.

Revenue decreased 54.1% in the second quarter.

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.

Tagged Earnings/Financial Reports
Millions of dollars annually will go to trail maintenance and creation.
The signing ceremony Tuesday. White House photo.

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.

Tagged Advocacy/Non-profits
The ISO published its 10th specification for e-bike manufacturing safety.

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.

Tagged Electric bike
Along with partners Amy Charity and Ken Benesh, he founded the SBT GRVL event in 2019.
Satkiewicz at the SBT GRVL start.

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.

Tagged Coronavirus / Tariffs
The rim brake innovator possessed a "relentless focus on creating the highest quality products."

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."

Garmin reported a 9% year-over-year revenue decrease in the second quarter.

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.

Tagged Earnings/Financial Reports
Shimano will celebrate its 100th anniversary in 2021.

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%.

Tagged Earnings/Financial Reports

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.

Tagged Earnings/Financial Reports

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.

Tagged Mergers & Acquisitions
Randolph in a company promotional photo.

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.


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