Industry News
MEQUON, Wis. (BRAIN) — Hayes Performance Systems laid off an unspecified number of employees Thursday, the latest company in the industry to show the effects of a stagnant bike market.
BENTONVILLE, Ark. (BRAIN) — French cycling apparel brand Café du Cycliste opened a small office here in July with the eventual goal of growing its market share in North America.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. will reduce its workforce by about 15% in an effort to reduce operating expenses by about $50 million from its projected current fiscal year amount of $320 million.
GIVISIEZ, Switzerland (BRAIN) — Scott's search for a new CEO has concluded with the appointment of two co-CEOs: longtime Scott executive Pascal Ducrot and Juwon Kim. Kim has been an interim CEO since the Scott board replaced longtime CEO and part-owner Beat Zaugg in March.
(BRAIN) — Tern is asking retailers to be on the lookout for 48 of its bikes and e-bikes that were stolen while in transport by rail from Los Angelas to a Tern warehouse in Illinois last month.
ROTORUA, New Zealand (BRAIN) — Anonymous industry members have invested NZ$2 million ($1.21 million) into the New Zealand-based fitment database startup Bike Matrix.
BOULDER, Colo. (BRAIN) — For our August magazine edition, we asked our State of Retail panel members: How are you approaching your 2025 ordering? What, if anything, is different this year?
SEATTLE (BRAIN) — Rad Power Bikes laid off an undisclosed number of employees in July, the fifth workforce reduction since 2022.
TAIPEI, Taiwan (BRAIN) — Giant Group announced that its first-half revenues were NT$37.23 billion ($1.147 billion), a 12.6% decline from the same period last year.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation second-quarter revenue was down 18% year-over-year, but CEO Sean Macdonald said the cycling and motorcycle protective brand sees signs of future growth.
SAN MATEO, Calif. (BRAIN) — GoPro Inc.'s second-quarter revenue declined 23% year-over-year with retail-channel sales down 17% during the same period.
ANOKA, Minn. (BRAIN) — Sales declined 13.6% and gross profit decreased 14.2% in the most recent quarter for Vista Outdoor's Revelyst business unit, which includes its bicycle-related brands. The company continues to negotiate with two potential buyers for its Kinetic Group ammunition business and for the entire business. And its board recently announced it's exploring "a full range of alternatives" for Revelyst.
Fox said sales of its bike products in the half were down $87.9 million — or 39.3% — from the same period last year.
CORONA, Calif. (BRAIN) — Troy Lee has bought Troy Lee Designs back from 2Ride Holding, which acquired the brand in 2022 from SBJ Capital.
CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the parent company of events including the Sea Otter Classic, Unbound Gravel and Leadville 100, announced that its sales were up 18.9% in the second quarter to $667.8 million.
WASHINGTON (BRAIN) — In a unanimous vote that should benefit legitimate bike suppliers, the Consumer Product Safety Commission ruled that Amazon is a distributor and bears responsibility for products sold by third-party sellers that are defective or fail to meet federal safety standards and has a legal responsibilit
OLATHE, Kan. (BRAIN) — Led by the Fitness segment's double-digit growth, Garmin Ltd. second-quarter revenues increased 14% compared to the same period last year.
For the quarter ending June 29, Garmin reported sales of $1.51 billion with operating income increasing 20% to $342 million.
ANOKA, Minn. (BRAIN) — Vista Outdoor will consider selling the Revelyst division that includes its bicycle-related brands as its board of directors begins a review of "strategic alternatives."
OSAKA, Japan (BRAIN) — Shimano bike component sales decreased 20.7% year-over-year in the first half with the brand saying global market inventories remain elevated.
BOULDER, Colo. (BRAIN) — Nonprofit DEI advocacy group Camber Outdoors will close in August after 28 years, the board of directors and leadership team announced on Saturday.
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