Industry News
NEWBURY PARK, Calif. (BRAIN) — Giant Bicycles says it is aware of a fraudulent website mimicking its U.S. domain and has started the process of eliminating it by notifying the Federal Trade Commission, which investigates online scams in the U.S., and the brand's global legal team in Taiwan.
NEW YORK (BRAIN) — Peloton’s fiscal year has concluded with $1.13 billion in revenue, down 48% from the prior year and 64% from the year before that.
The company’s net loss for the year was $1.26 billion, partly a result of a costly seatpost recall that was announced in May.
DENVER (BRAIN) – Pactimo is working with Maui artist Welzie to create a Love Maui Love Collection of jerseys and running shirts, with sales proceeds dedicated to supporting those devastated by the recent Maui fires.
PITTSBURGH (BRAIN) — Dick's Sporting Goods reported net sales increased 3.6% year-over-year in the second quarter and after an organizational review eliminated some customer support center jobs on Monday.
CYPRESS, Calif. (BRAIN) — Yamaha Bicycles started a click-and-collect program through its network of dealers, giving customers the option to buy online and pick up at the nearest Yamaha dealer.
NEW YORK (BRAIN) — Peloton launched a B2B division that will offer its hardware and interactive software to clients in hospitality, corporate wellness, gyms, and community wellness.
NEW YORK (BRAIN) — E-bike reseller Upway will offer a repair program exclusively for VanMoof owners here beginning the week of Sept. 4.
BOULDER, Colo. (BRAIN) — For our August magazine edition, we asked our State of Retail panel members: What do you do for professional development?
LEWISTON, Idaho (BRAIN) — After Vista Outdoor splits into two companies later this year, the ammunition and shooting sports business will be called The Kinetic Group.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation's second-quarter revenue decreased 31% year-over-year despite mountain bike and moto helmet sales increasing 48% compared with the same time last year.
TAIPEI (BRAIN) — In the U.S., the concept of Environmental, Social and Governance reports has set off an economic/cultural/political "debate," as so many things do. But in Taiwan, ESG reports offer some useful data.
WASHINGTON (BRAIN) — Bike imports were down steeply in the first half of the year compared to the year prior, even as the average import value of bikes increased significantly.
TAIPEI, Taiwan (BRAIN) — Giant Group said the China market's interest in performance cycling drove a 70% sales increase in the half there. However, sales for Giant-branded products in Europe were down 12% in the half, and in the U.S., they were down 44%, the company reported.
(BRAIN) — Citing the "ongoing economic challenges" within the bike industry," The World Federation of the Sporting Goods Industry has postponed its World Cycling Forum 2023 to a later date. The Forum was scheduled for next month at the IAA Mobility conference in Munich, Germany.
OLATHE, Kan. (BRAIN) — Led by the Fitness segment's double-digit revenue growth, Garmin Ltd. second-quarter revenue increased 6% year-over-year.
(BRAIN) — Sales in Fox Factory's Speciality Sports Group, comprised of its bicycle-related brands Fox, Marzocchi, RaceFace and Easton, were down 41% in the company's second quarter. The company said the decrease was "driven by higher levels of inventory across various channels."
SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue declined 3.9% year-over-year despitethe company's return to pre-pandemic pricing in the second quarter and retail-channel revenue growth of 6%.
BETHESDA, Maryland (BRAIN) — Mike Fritz left last week's Consumer Product Safety Commission public hearing on lithium-ion battery safety confident he and other industry representatives convinced the agency mandatory regulations are needed.
NEW YORK (BRAIN) — E-mobility rental and sales company micromobility.com submitted a non-binding bid to acquire e-bike brand VanMoof, which was declared bankrupt by the court of Amsterdam on July 17.
VANCOUVER, British Columbia (BRAIN) — Envo Drive Systems, the maker of various electric vehicles including e-bikes, has acquired VeloMetro Mobility, a fellow Vancouver-based company, which went bankrupt last winter.
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