Retail News

Fort Myers Beach following Hurricane Ian. Getty photo.

FORT MYERS, Fla. (BRAIN) — Hurricane Ian left at least one bike shop "utterly destroyed"— the Fort Myers Pedego store. It's likely that many more stores and the homes of their owners and employees were damaged or destroyed. Retailers who have been able to re-open are trying to quickly rescue customers' bikes that were submerged. And they are contemplating how their market will be affected as the area rebuilds.

Tagged Electric bike

NEW YORK (BRAIN) — More than 100 Dick's Sporting Goods stores will soon sell Peloton stationary bikes, treadmills and accessories starting this holiday season. It will be Peloton's first distribution agreement with a brick-and-mortar retailers. Dick's will also sell the products on its website.

As consumer demand tapered off (how could it not?) and pandemic back-orders came trickling (or flooding) onto shop floors, some discounting became inevitable.

Tagged From the Magazine
Lamar Timmins in his store.

Allo Vélo’s 9,000-follower account became a crypto mining platform after Lamar Timmins fell victim to a common and sometimes irreversible Instagram hack.

Splitrock Tap & Wheel benefited from opening in April 2020.

BOULDER, Colo. (BRAIN) — After nearly 50% sales increase industry-wide from 2019 levels in 2020 and 2021, most retailers were sitting on more cash than ever before. With no inventory available for replenishment, that cash was invested in creative ways. And as we review windfalls, we must keep in mind the corresponding human costs involved.

Tagged From the Magazine

PONTIAC, Mich. (BRAIN) — Co-owner Michael Reuter and Kenny Stonehouse are selling their eight-store retail chain, American Cycle & Fitness, to Trek Bicycle. 

Tagged Mergers, Acquisitions & Investments

BLACKSBURG, Va. (BRAIN) — East Coasters Bike Shops co-owner Wesley Best was unusually busy Tuesday, but it had little to do with running the two stores that he and Chris Betz have operated since 2005.

Tagged Mergers, Acquisitions & Investments
Mark Mattei, right, with longtime employee Earl Russell.

CHICAGO (BRAIN) — For Mark Mattei, it's simply time. "Being 71 and still having reasonable mental faculties, I thought it would be wise to retire when I could still consciously appreciate retiring," said Mattei, Cycle Smithy's owner since 1973. "And I wouldn't mind a little time off."

SCOTTSDALE, Ariz. (BRAIN) — Erik's broke new ground last month when the Midwestern retailer branched out to open its first location in Arizona. The store in Scottsdale is also Erik's first e-bike specific location.

FOLSOM, Calif. (BRAIN) — Folsom Bike owners Wilson and Erin Gorrell have announced they have sold their two stores to Trek Bicycle, effective Sept. 1.

SALT LAKE CITY, Utah (BRAIN) — Rad Power Bikes will open its sixth store on July 8, in Salt Lake City. The company said it plans to open stores in Huntington Beach, California; Brooklyn, New York; and St. Petersburg, Florida, later this summer. 

Tagged Electric bike

(BRAIN) — The National Bicycle Dealers Association has announced the 2022 Bicycle Retailer Excellence Awards winners. One hundred and eleven retailers from North America were awarded at Platinium, Gold, Silver and Bronze levels.

BERKELEY, Calif. (Outside Business Journal) — Employees of the REI's store here are seeking to unionize, just four months after the company's Manhattan, N.Y., location passed a vote to do the same in March.

FITCHBURG, Wis. (BRAIN) — Milwaukee’s Wheel & Sprocket will have two locations in the Madison area with the acquisition of Fitchburg Cycles from its long-time owner Edwin Benet.

Tagged Mergers, Acquisitions & Investments

LINCOLN, Neb. (BRAIN) — Trek Bicycle has acquired The Bike Race, a two-store chain in Lincoln and Omaha.

Tagged Mergers, Acquisitions & Investments

WHEAT RIDGE, Colo. (BRAIN) — Wheat Ridge Cyclery, a nearly 50 year old Denver-area retailer, is opening a second location. 

The new location will be in Littleton, in the Ken Caryl region south of Denver.  WRC's original location is in Wheat Ridge, north of Denver.

Trek decides to stop sales to the stores that have long been associated with the brand.
Elevation Cycles' Parker, Colorado, location.

DENVER (BRAIN) — Mike’s Bikes, the California retailer acquired by Pon.Bike last August, has bought the four-store Elevation Cycles chain in the Denver area.

The Ledger building features external bike ramps up to the sixth floor.

BENTONVILLE, Ark. (BRAIN) — Specialized plans to open its third Experience Center in the U.S. this fall, in this bike-hub city; the company also has acquired a store in nearby Fayetteville called The Bike Route.

ARLINGTON, Va. (BRAIN) — Conte's Bike Shop will open its eighth location in the District of Columbia region at the National Landing Amazon HQ2 offices early next year.

NEW YORK (BRAIN) — A two-alarm fire at a Queens bike shop on Monday was caused by a charging lithium-ion battery, according to FDNY.

Tagged Electric bike

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