KETCHUM, Idaho (BRAIN) — Club Ride Apparel sale were up 47 percent in the first quarter, to $856,000, compared with sales of $583,000 in the same quarter last year, the company stated.
The privately held bike clothing brand voluntarily releases financial information each quarter.
The company said its gross margins and net margins also showed steady improvement. Gross margin in the first quarter this year was 38.1 percent, up from 36.7 percent a year earlier.
Club Ride introduced its 2014/2015 Fall-Winter collection to dealers in January, with deliveries expected in August. The company will introduce its 2015 Spring-Summer collection in June.
In addition to the 2015 Spring-Summer collection, the company will be introducing a line of InnerWear padded inner shorts for men and women in the second quarter this year.
Club Ride CEO Scott Montgomery said, “Based on Leisure Trends data, it’s clear the cycling industry in the U.S. is facing a downward sales trend in the road bike segment. It’s important for dealers to find growth opportunities to offset this lost revenue. One surefire way to boost sales is to sell more high-margin apparel. Our objective is to help retailers sell more apparel, especially to the customer who may not feel comfortable wearing the traditional Lycra kit or would like something they can wear on and off the bike.”
