Industry News
OLATHE, Kan. (BRAIN) —Garmin Ltd. posted record second-quarter revenue of $955 million, an increase of 7% over the prior year's quarter and raising revenue expectations for the rest of the year.
BOULDER, Colo. (BRAIN) — The Senate Environment and Public Works Committee on Tuesday passed America's Transportation Infrastructure Act. Authorized at $287 billion over five years, the ATIA represents a 27 percent proposed increase in funding for the Federal Aid Highway program, which PeopleForBikes supports.
DENTON, Texas (BRAIN) — Bunch Bikes has expanded its cargo bike offerings and is now selling through bike shops in addition to its intial consumer-direct sale model.
CAMBRIDGE, United Kingdom (BRAIN) — Dave Henderson was ahead of his time. At age 15 in 2002, he built his first e-bike, using a motor from a car radiator fan and a lead-acid battery.
OSAKA, Japan (BRAIN) — Shimano's net sales in its bicycle components division were up 4.1% in the first half of its fiscal year, which ended June 30. Operating income in the division decreased 3%, however.
MUNICH (BRAIN) — Backpack and travel bag brand EVOC Sports, based in Germany, has acquired the Swiss bicycle transport bag manufacturer Tranzbag.
BOULDER, Colo. (BRAIN) — Investigators are trying to find the driver who struck Andrew "Bernie" Bernstein on Saturday as the industry veteran was riding home from a velodrome workout.
SCOTTS VALLEY, Calif. (BRAIN) — About two months after announcing that it planned to reinvest in its bike helmet and accessory brands, Vista Outdoor has laid off 14 people at its Scotts Valley facility, which houses the Bell, Giro and Blackburn headquarters. The layoffs represent about 10% of the work force at the facility.
BOULDER, Colo. (BRAIN) — Wholesale bike sales were down 6.6% in dollars and 17.1% in units in June, compared to the same month last year, according to the latest Sell-in Report from the Bicycle Product Suppliers Association.
STOCKHOLM (BRAIN) — Helmet technology company MIPS reported a net sales increase of 61% in the first half of the year with operating profit increasing 108% from the same period last year, according to its interim report.
WARWICK, R.I. (BRAIN) — Making cycling more inclusive to those with special needs is at the hub of what Van Raam bicycles represents. And with Spinov8 as the North American distributor, Van Raam's sales focus is becoming decidedly mobile.
NEW YORK (BRAIN) — While its revamped Citi Bike e-bike model won’t be out until the fall, bike-share company Lyft last month began unveiling a new model in California that it says addresses brake complaints that sidelined its e-bike fleet.
HEERENVEEN, Netherlands (BRAIN) — Accell Group N.V. reported total group revenues of 683 million euros ($766 million) in its first fiscal half, up 7.4% from the same period last year. Net profit for the group was up 16.5% to 29.7 million euros.
PARIS (BRAIN) — Testpass, a French company that provides bike-makers, event-organizers and others with software to manage bike demos, is offering expanded features thanks to an investment from a company that provides similar services to the auto and motorcycle industry.
SANTA BARBARA, Calif. (BRAIN) — Erik Saunders combined a love of bike components with a desire to manufacture domestically to create a company as concerned about the way it does business as the products themselves.
BOULDER, Colo. (BRAIN) — Green Guru Gear has combined upcycling with bicycling for the past dozen years.
CHANDLER, Ariz. (BRAIN) — This Thursday, Specialized's Bob Margevicius will lead a webinar for bike retailers on de minimis, the minimum value threshold for U.S. Customs to begin charging duties on imports. The U.S. de minimis is currently $800 per day, much higher than most nations.
BLOOMINGTON, Minn. (BRAIN) — QBP is now distributing Fox dropper posts, forks, shocks and service parts.
LOUISVILLE, Ky. (BRAIN) — After Vista Outdoor announced the sale of its firearms brands, REI quickly resumed buying its products. Some — but not all — bike shops did the same.
HEERENVEEN, Netherlands (BRAIN) — Accell Group has sold its Canadian brand registrations for Raleigh, Diamondback, Redline and IZIP to Canadian Tire Corporation for $16 million cash. Canadian Tire is one of that country's largest retail chains.
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