Industry News
TOKYO (BRAIN) — Shimano reported Tuesday that its first-quarter bike division sales were down 15.4% from the same period last year. Operating income in the division declined 26.1%.
STOCKHOLM (BRAIN) — Thule Group sales in the first quarter of this year dropped 4.9% as a result of the COVID-19 pandemic that either closed or limited retailers in Europe and North America.
WASHINGTON (BRAIN) — The U.S. Trade Representative's office has granted tariff exclusions to some more bike-related products. Meanwhile the industry is working to extend the exclusions to the tariffs, which are imposed on China-made products as part of the Trump administration's Section 301 action.
WASHINGTON (BRAIN) — The Small Business Administration officially received an additional $310 billion in funds to restart its two loan programs that ran out of money last week.
MILAN (BRAIN) — Pirelli bicycle tires will now be distributed by KASK America in the U.S., the Italian company announced.
WASHINGTON (BRAIN) — The House of Representatives on Thursday night signed off on the COVID-19 relief package that allocates $310 billion to the depleted Paycheck Protection Program to aid small businesses.
The measure passed 388-5.
MORGAN HILL, Calif. (BRAIN) — Specialized has laid off 7% of its workforce as the company reassess its economic position in the wake of COVID-19's impact on the world cycling market.
KIRKWOOD, Calif. (BRAIN) — The COVID-19 pandemic has canceled yet another industry event: The QBP U of Q Brand Camp 2020, scheduled for Sept. 15-18 at Kirkwood Resort.
SAN DIEGO (BRAIN) — John Forester, considered the father of "vehicular cycling," died last week at age 90.
BLOOMINGTON, Minn. (BRAIN) — With a few exceptions, almost every bike retailer in the country has an account with Quality Bicycle Products, giving the Minnesota-based distributor a wide view of what's happening across the IBD nation.
ASHEVILLE, N.C. (BRAIN) — Cane Creek Cycling Components has resumed limited operations at their North Carolina headquarters after being designated as an essential business by the state.
DOWNERS GROVE, Ill. (BRAIN) — The latest edition of the National Sporting Goods Association's annual Sports Participation in the US report showed a 1.8% increase in participation in wheel sports (which includes bike riding) last year and a 4% increase in bike riding by women.
WASHINGTON, D.C. (BRAIN) — The Senate on Tuesday afternoon agreed to a COVID-19 relief package that will allocate $310 billion to the depleted Paycheck Protection Program to help small businesses.
WASHINGTON (BRAIN) — The Small Business Administration and U.S. Treasury Department said Friday afternoon the initial success of the Paycheck Protection Program makes it imperative that funding is approved for it to continue.
WASHINGTON (BRAIN) — The Small Business Administration announced Thursday it has no more money to assist small businesses affected by the COVID-19 pandemic and can't accept any more Paycheck Protection Program or Economic Injury Disaster Loan applications.
MINNEAPOLIS (BRAIN) — As the industry continues to suffer from a shortage of qualified mechanics, a new organization, the Bicycle Industry Employers Association, has established a curriculum of college-level classes, scheduled to launch in September 2020 at the Minneapolis Community and Technical College.
More and more bike brands are manufacturing PPE or making other donations to aid in the battle against COVID-19. Here are some of the reports we've received this week.
WASHINGTON (BRAIN) — With the Small Business Administration nearing the limit of Paycheck Protection Program loans it can issue, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza jointly issued a statement Wednesday night calling for Congress to approve additional funding.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. announced a workforce reduction of more than 20% to reduce operating expenses in the wake of the COVID-19 pandemic, the company announced in a statement Wednesday afternoon.
WASHINGTON (BRAIN) — The Small Business Administration said Tuesday that as of noon Eastern time it had approved $253 billion in forgivable loans during the program's first 12 days.
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