Industry News
SAN MATEO, Calif. (BRAIN) — GoPro Inc. first-quarter revenue decreased 19.4% year-over-year, but founder and CEO Nicholas Woodman said the company exceeded expectations for product and subscription service demand.
MONTEREY, Calif. (BRAIN) — Organizers of the Life Time Sea Otter Classic say total attendance at this year's show was 76,500, up from 71,000 last year and with a significant increase in the number of corporate brands and exhibitors at the event's expo.
MALLABIA, Spain (BRAIN) — Orbea has doubled its workforce in the last three years and now has more than 1,000 employees, with 80% of the in Spain's Basque Country.
WESTPORT, Conn. (BRAIN) — Compass Diversified (CODI), the owner of Boa, Lizard Skins, PrimaLoft and other brands, had net sales of $542 million in its first quarter, up 6% from the same quarter last year.
NEW YORK (BRAIN) — Emerald Holding, Inc. had revenues of $122.3 million for the first quarter of 2023, an increase of 24.2% over the same period last year. Net income was $7.1 million for the quarter, compared to $16.1 million for the first quarter of 2022.
DENVER (BRAIN) — Capo Cycling Apparel has been acquired by industry veteran Zach Spinhirne-Martin from its founders, Robert Carbone and Gary Vasconi.
Capo, founded in 2004, is a U.S.-based brand that sells Italian-made apparel.
DULUTH, Ga. (BRAIN) — Fox executives said the decline was a return to seasonality after several years of pandemic-driven demand for its Speciality Sports Group products.
Boulder, Colo. - May 4, 2023 – Outside Interactive, Inc., the world’s leading creator of active lifestyle content, services, events, and experiences, announced the launch of a new cycling media product, Velo, at an industry webinar today.
ANOKA, Minn. (BRAIN) — Vista Outdoor’s Action Sports business unit recorded net sales of $496 million in its most recent fiscal year, a 23% increase from the prior year.
OLATHE, Kan. (BRAIN) — Garmin Ltd. first-quarter revenue decreased 2% year-over-year despite its Fitness segment revenue increasing 11%.
SAN FRANCISCO (BRAIN) — A bike rider is suing Rad Power Bikes here in superior court claiming his Rad Runner Plus e-bike caused him to fall and sustain injuries and property damage.
STOCKHOLM (BRAIN) — Thule Group's first-quarter net sales were down 26.6% year-over-year, largely due to declining bike-product demand from retailers lowering inventory levels.
SEATTLE (BRAIN) — Rad Power Bikes laid off an undisclosed number of employees, its fourth round of workforce reductions in a year.
OLYMPIA, Wash. (BRAIN) — Washington state is poised to become the eighth state to approve rebates or incentives for purchasing e-bikes, an important tool to get more people out of cars and onto bicycles for climate, equity, and sustainability goals.
DAYTON, Ohio (BRAIN) — Longtime industry professional Bob Stomel died Tuesday. He was 59. Stomel's 45-year career began working in a local bike shop in Philadelphia and concluded with him as director of sales for Huffy Corp.
MONTEREY, Calif. (BRAIN) — Speaking at the recently concluded Sea Otter Classic Summit, John Bastian is bullish on the long-term prospects for the global bicycle industry. But he's cautious on its short-term prospects as world events roil the marketplace.
EL PASO, Texas (BRAIN) — Helen of Troy fourth-quarter net sales decreased 16.7% year-over-year. The parent company of Osprey and Hydro Flask also reported its yearly net sales declined 6.8%.
CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, Inc., the owner of the Sea Otter Classic and other cycling events, saw a 30% revenue increase, year-over-year, in the first quarter.
STOCKHOLM (BRAIN) — MIPS' net sales decreased 35% year-over-year in the first quarter as bike helmet demand continued to wane.
SEATTLE (BRAIN) — Rad Power Bikes will work with Redwood Materials to recycle the brand's end-of-life lithium-ion batteries.
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