Earnings/Financial Reports
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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.
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STOCKHOLM (BRAIN) — Thule Group net sales fell 23% year-over-year as global demand for bike products waned because of high inventory levels.
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OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 4% year-over-year, with the Fitness segment experiencing an 18% decline.
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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.
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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.
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STOCKHOLM (BRAIN) — MIPS reported third-quarter net sales decreased 39% year-over-year, citing reduced demand for bike helmets in its Sport category.
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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.
![An Osprey hydration reservoir. An Osprey hydration reservoir.](https://bicycleretailer.com/sites/default/files/styles/thumbnail/public/images/article/hydraulicsltreservoir_2.5l_s23_front.jpg?itok=CgtVIm8y)
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.
![Felt shared display space with Husqvarna at the Eurobike show in July. Felt shared display space with Husqvarna at the Eurobike show in July.](https://bicycleretailer.com/sites/default/files/styles/thumbnail/public/images/article/img_0979.jpeg?itok=OUF-X764)
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.
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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.
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PITTSBURGH (BRAIN) — Dick's Sporting Goods' second-quarter net sales declined 5% year-over-year and comparable store sales were down 5.1%.
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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.