Earnings/Financial Reports
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TAICHUNG, Taiwan (BRAIN) — On Wednesday, Giant Group's board approved its full 2023 financial report, which shows consolidated sales of NT$76.95 billion ($2.44), an annual decline of 16.4%.
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CAPE TOWN, South Africa (BRAIN) — Leatt Corporation reported year-over-year revenue declines for 2023 (38%) and the fourth quarter (10%), but CEO Sean Macdonald said the cycling and motorcycle protective brand sees better days ahead.
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OBERWANGEN, Switzerland (BRAIN) — E-bike brand myStromer AG said it achieved "sustainable" growth last year of more than 10%. The privately held company did not release financial details.
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CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the fitness center company that also owns some bike events including the Sea Otter Classic, Unbound Gravel and Leadville 100 races, reported 2023 full-year revenues were up 21.6% from the prior year, to $2.2 billion.
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(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.”
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OLATHE, Kan. (BRAIN) — Garmin Ltd. posted record revenue for 2023, while fourth-quarter revenue increased 13% year-over-year boosted by the Fitness segment.
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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.
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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%.
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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.
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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.
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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%.
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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.