News
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.
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