Earnings/Financial Reports
DULUTH, Ga. (BRAIN) — Fox Factory's company-wide sales were up 17.8% in its most recent quarter compared to the same period last year, with sales in the company's bicycle-related Speciality Sports Group up 9.1% in the period to $174 million.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. third-quarter revenue decreased 4% year-over-year but experienced subscription and service revenue growth for the quarter ending Sept. 30.
STOCKHOLM (BRAIN) — Thule Group net sales fell 23% year-over-year as global demand for bike products waned because of high inventory levels.
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 4% year-over-year, with the Fitness segment experiencing an 18% decline.
TREVISO, Italy (BRAIN) — Cicli Pinarello said its sales were up 24% in its most recent fiscal year, which closed June 30. The company had sales of 84 million euros ($83.6 million at today’s exchange rate) according to a press release.
OSAKA, Japan (BRAIN) — Shimano said “strong interest” by consumers in bicycles shows signs of cooling down, but demand is still higher than it was prior to COVID-19.
STOCKHOLM (BRAIN) — MIPS reported third-quarter net sales decreased 39% year-over-year, citing reduced demand for bike helmets in its Sport category.
SEYMOUR, Conn. (BRAIN) — Thule Group has made another unusual mid-quarter financial statement, warning investors that its revenues and profits will be down significantly in its third quarter due to over inventory in the bicycle retailer sector.
EL PASO, Texas (BRAIN) — Helen of Troy reported second-quarter net sales growth of 9.7% year-over-year, with its Home & Outdoor group experiencing an 11.8% increase.
Wels, AUSTRIA (BRAIN) — Pierer Mobility AG — the Austrian company that owns Felt Bicycle and the Husqvarna, GASGAS and R Raymon e-bike brands — said its sales of e-bikes were down 12% in the first half, partly due to supply chain constraints.
NEW YORK (BRAIN) — Peloton Interactive reported a fourth-quarter net operating loss of $1.2 billion on Thursday as the indoor fitness company continues its downturn following rapid growth during the pandemic. It was the sixth consecutive quarter of reported losses.
PITTSBURGH (BRAIN) — Dick's Sporting Goods' second-quarter net sales declined 5% year-over-year and comparable store sales were down 5.1%.
CHANHASSEN, Minn. (BRAIN) — Life Time, a fitness center operator that also owns the Sea Otter Classic, the Leadville 100, Unbound Gravel and other bike events, reports that revenues were up 50% in the first half of 2022 as its fitness facilities re-opened and events resumed after COVID-19 closures.
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