Earnings/Financial Reports
(BRAIN) — Fox Factory revenues in its Speciality Sports Group, which includes its bike-related brands, were down 43% in the company’s 2023 fiscal year, a decline the company attributed to “channel inventory recalibration” and “lower end consumer demand.”
OLATHE, Kan. (BRAIN) — Garmin Ltd. posted record revenue for 2023, while fourth-quarter revenue increased 13% year-over-year boosted by the Fitness segment.
STOCKHOLM (BRAIN) — Thule Group's year-over-year net sales for the fourth quarter decreased 5% while yearly sales were down 10% compared to 2022 as bike-related product sales continued to decline.
STOCKHOLM (BRAIN) — Despite some bike helmet sales growth in the Sport sub-category, MIPS' fourth-quarter net sales decreased 15% year-over-year while yearly net sales were down 37%.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. fourth-quarter revenue declined 8% year-over-year as did its 2023 revenue despite camera sell-through increases in the second half of the year.
HELSINKI (BRAIN) — Enve Composites owner Amer Sports did not meet pricing expectations for its initial public offering over analysts' concerns with its Chinese parent company Anta Sports Products.
ANOKA, Minn. (BRAIN) — Sales in Vista Outdoor's Revelyst business unit — formerly its Outdoor Products segment — decreased 10% in the company's fiscal third quarter, which ended Dec. 24. Revelyst contains bike industry brands Giro, Bell, Fox Racing, QuietKat and others.
EL PASO, Texas (BRAIN) — Helen of Troy third-quarter net sales declined 1.6% year-over-year, despite the Home & Outdoor group's sales increasing 3.1%.
KOBLENZ, Germany (BRAIN) — Privately held Canyon Bicycles announced Monday that its year-on-year sales increased 23% in the first nine months of 2023. However, the company recorded a loss of 1.3 million euros in the period due to discounting and a shortage of some models that were in high demand.
TAIPEI, Taiwan (BRAIN) — Giant Group's sales in the first three quarters of the year were NT$62.1 billion ($1.97 billion), a decrease of 12.4% from the same period last year. The manufacturer's net income after tax was NT$3.12 billion, a 45% decrease year-over-year.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation reported third-quarter revenue was down 48% and revenue for the first nine months of 2023 dipped 43% year-over-year.
CEO Sean Macdonald said he remains optimistic about the protective gear brand.
WESTPORT, Conn. (BRAIN) — Fox Factory is striking out in a new direction with the acquisition of Marucci Sports, a baseball and softball equipment brand.
Sales decline as the company prepares to sell of its ammunition business unit and spin its outdoor sports brands in a new company called Revelyst. The CEO of Revelyst said the company plans to focus on its "highest potential" brands and may sell other brands.
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