News
BROOKLYN, N.Y. (BRAIN) — Recent "Pandemic Check-ins" have featured executives with large IBD suppliers in Wisconsin, California, and Minnesota. Today we check in with a smaller supplier based in the pandemic's epicenter and who is experiencing a major sales boom — with sales up 600% so far this year.
PeopleForBikes' COO says that when it comes to bikes, every day brings more than just some good news.
WASHINGTON (BRAIN) — The Small Business Administration and Department of the Treasury will make it easier for small businesses to obtain Paycheck Protection Program loans.
OLATHE, Kan. (BRAIN) — Garmin Ltd. total revenue increased 12% in the first quarter of 2020 year-over-year, with its fitness division that includes smart-trainer sales growing 24%.
STOCKHOLM (BRAIN) — Net sales for MIPS increased 25% in the first quarter year-over-year despite the COVID-19 pandemic affecting retailers worldwide.
MORGAN HILL, Calif. (BRAIN) – Mike Sinyard was in his mid-20s when he founded Specialized Bicycle Components in 1974, selling his old Volkswagen van for $1,500 and leaving for Europe. He came back selling hard-to-find Italian components and two years later launched a Specialized tire for the touring market.
MIAMI (BRAIN) — Florida-based distributor JBI, parent of the distributor J&B, has acquired Pure Cycles, an omnichannel bike brand.
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.
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