Industry News
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 6% year-over-year in the fourth quarter and 2% for 2022 as its Fitness products division experienced the biggest decline of all the company's segments.
SVETA NEDELJA, Croatia (BRAIN) — After acquiring a majority interest in Greyp in 2021, Porsche announced the Croatian e-bike brand will operate under the Porsche eBike Performance group.
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%.
PHILADELPHIA (BRAIN) — A Brooklyn, New York, company has agreed to acquire the intangible assets of the bankrupt sporting goods chain Olympia Sports for $180,000. The assets include CleverTraining, an e-commerce retailer that was once active in the cycling and triathlon markets.
WASHINGTON (BRAIN) — Lithium-ion battery fires and e-bike standards generated plenty of debate within the industry in 2022, but little argument exists within the industry over how some unregulated packs and bikes enter the U.S. and become potentially hazardous products.
BOULDER, Colo. (BRAIN) — For our February magazine edition, we asked our State of Retail panel members: How have you been affected by the glut of product currently in the market, and what are you and your suppliers doing to manage the situation?
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.
STOCKHOLM (BRAIN) — Thule Group fourth-quarter net sales declined 10.6% year-over-year with CEO Magnus Welander blaming reduced bike product demand from retailers who lowered inventory after large preseason orders.
BOULDER, Colo. (BRAIN) — Two trade organizations and some well-known experts find themselves in opposition as the industry reacts to well-publicized fires, deaths, and injuries involving e-bikes and e-mobility devices.
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.
STOCKHOLM (BRAIN) — A 50% drop in bike helmet sales in the fourth quarter led to MIPS' net sales decreasing 46% year-over-year. For the year, the helmet technology company experienced a 7% drop in net sales.
TAICHUNG CITY, Taiwan (BRAIN) — SRAM will open a new 100,000-square-meter facility next year, continuing more than three decades of manufacturing here.
PALO ALTO, Calif. — In addition to giving more kids access to bikes and places to ride, the nonprofit Outride organization also studies cycling’s cognitive and physical benefits.
LONDON (CYCLINGTIPS) — Iconic bike café and workshop Look Mum No Hands! has closed for good.
FRANKFURT (BRAIN) — The Eurobike expo area has been expanded to accommodate an increased number of exhibitors for the second edition of the global trade show here on June 21-25.
SAN MATEO, Calif. (BRAIN) — GoPro reported fourth-quarter revenue decreased 18% year-over-year and for the year it dropped 6%.
IRVINE, Calif. (BRAIN) — The National Bicycle Dealers Association is now maintaining an e-bike database that includes supplier-provided information on certifications and insurance policies for bikes available in the U.S.
SEATTLE (BRAIN) — REI Co-op laid off about 8% of its headquarters' workforce at the end of January, impacting 167 leaders and employees as it faces increasing economic uncertainty.
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.
ANOKA, Minn. (BRAIN) — On the same day the company released its third-quarter earnings report, Vista Outdoor announced it appointed an interim CEO after its board asked Chris Metz to step down from the position.
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