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Thule Group sales up 8.5% in recent quarter

Published October 27, 2017

STOCKHOLM (BRAIN) — Thule Group announced Friday that its net sales were up 6.9 percent in its third quarter, the period from July through September. Adjusted for exchange rate fluctuations, sales rose 8.5 percent, to 1,385 million Swedish Krona ($165 million).


For the year to date, January through September, sales were up 12.5 percent.

The company's "Active with Kids" product category, which includes bike trailers, strollers and bike seats, is its fastest growing category. Thule's RV Products category has also grown strongly in Europe, although it has little presence in North America. 

In the Americas, the company saw growth of 3.4 percent in the quarter, with much growth coming from the Active with Kids category and its luggage line. The company noted that in the U.S., "market conditions are generally tougher for retail chains with physical stores in shopping malls." 

In September, the company announced that it had rearranged its product categories. The company now has four categories: 

  • Sport & Cargo Carriers (unchanged) — including roof racks, roof boxes, bike racks and racks for water- and winter sports transported by car
  • Packs, Bags & Luggage (a combination of the previous product category Bags for Electronic Devices and parts of Other Outdoor & Bags) — including computer- and camera bags, hiking backpacks and luggage
  • Active with Kids (previously part of Other Outdoor & Bags) —including bicycle trailers, strollers and child bike seats
  • RV Products (previously part of Other Outdoor & Bags) — including awnings, bike racks and tents for mobile homes and caravans.

Thule said it will only break out sales trends for the four categories in its full-year report. 

Topics associated with this article: Earnings/Financial Reports

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