BRAIN Staff
All articles by BRAIN Staff
AMSTERDAM (BRAIN) — Pon Holdings revenue increased 23% year-over-year to reach $10 billion euros ($10.9 billion) for the first time in company history, while Pon.Bike revenue was 2.4 billion euros ($2.62 billion).
ASPEN, Colo. (BRAIN) — Vail Resorts is closing 19 retail locations in the Colorado mountains. Most of the locations offered winter sports sales and rentals, but several of them also offered bike sales and rentals. The closures will cost 69 workers their jobs.
LONG BEACH, Calif. (BRAIN) — Virtual cycling brand Zwift is letting go 15% of its staff in its latest round of layoffs. The company also cut workers last May and November.
NEWARK, N.J. (BRAIN) — A sentencing hearing has been rescheduled for Samuel J. Mancini, who pleaded guilty last year to securities fraud related to a fund with plans to buy several Italian cycling brands.
TOYKO (BRAIN) — Shimano is forecasting a company-wide 20.5% drop in net sales for its fiscal 2023, citing global economic conditions and supply chain disruptions. It's forecasting bike division sales will be down 23%.
Former members of the professional mechanics' group provided an update.
OSAKA, Japan (BRAIN) — Sales in Shimano’s bicycle-product division hit another record in 2022, reaching 517.4 million yen ($3.885 billion) up 16.6% from the year prior.
BEVERLY, Mass. (BRAIN) — Custom carbon frame maker Parlee Cycles Inc. filed for Chapter 11 bankruptcy protection on Monday and will continue operations during the process. A balance sheet in its filing showed Parlee's liabilities totaled $4.4 million and total assets totaled $2.6 million at the end of January.
ANOKA, Minn. (BRAIN) — Vista Outdoor Inc. said its sales were down $40 million, to $755 million, in its third quarter, compared to the same period last year.
LOUISVILLE, Colo. (BRAIN) — The Pro's Closet has made its second round of layoffs in the past three months on Thursday, the result of continued economic headwinds facing the cycling industry.