Bicycle Retailer and Industry News - Earnings/Financial Reports

Dick's net sales rise 36%, completes acquisition of Foot Locker

DeanYobbi — Tue, 25 Nov 2025 13:45:27 +0000

PITTSBURGH (BRAIN) — Dick's Sporting Goods net sales increased 36.3% year-over-year in the third quarter while the big-box brand completed the Foot Locker acquisition and announced it will close an undisclosed number of the underperforming shoe stores.

Net sales for the quarter ending Nov. 1 was $4.17 billion, compared with $3.06 billion at the same time last year. Dick's will raise its full-year guidance for comparable sales growth to a range of 3.5% to 4.0%, an increase from 2.0% to 3.5% previously. Dick's also reported 5.7% comp sales growth.

Year-over-year net income for the quarter was down 67%, from $228 million to $75 million, and earnings per share decreased 69%, from $2.75 to $0.86.

"At Foot Locker, we've assembled a world-class management team and are taking decisive actions to 'clean out the garage' by clearing unproductive inventory, closing underperforming stores, and laying the foundation for a fresh start in 2026," said Ed Stack, executive chairman.

Dick's announced the appointment of Matthew Barnes as Foot Locker president, effective Dec. 3. Barnes will lead the business' international operations with a focus on driving growth. Barnes has nearly three decades of leadership experience from across the United Kingdom, Europe, U.S., China, and Australia.

Dick's opened 13 House of Sport locations and six Field House locations during the quarter.

Dick's Sporting Goods is traded on the New York Stock Exchange under the DKS symbol. More information: DKS stock quote at NYSE.com.

'Oversupply, aggressive discounting' blamed for Canyon's sales decrease

DeanYobbi — Thu, 20 Nov 2025 18:56:51 +0000

KOBLENZ, Germany (BRAIN) — Canyon Bicycle sales declined 7% year-over-year in the first nine months of the year with parent company Groupe Bruxelles Lambert saying the industry's challenging market of "oversupply and aggressive discounting" was partially responsible.

Sales were 611 million euros ($705 million), compared with 655 million euros at the same time last year. Organic growth also decreased 7%, and EBITDA growth slipped 29%.

A Stop Use Notice to owners of Spectral: ON, CF, and CFR, and Torque: ON CF e-MTBs because of battery safety concerns last year affected sales, GBL said. Canyon said it has resolved the issue for the majority of affected customers.

While electric and non-electric mountain and urban bikes showed little growth, Canyon's road and gravel bikes "remained robust," according to GBL.

Europe continues to be Canyon's most resilient market, according to GBL, but there's been reduced demand in Asia and the U.S. because of tariff uncertainty. In April, Canyon laid off an undisclosed number of employees in the U.S., part of an "an ongoing process" and not tied to changing tariff policy, a brand spokesperson said. In July, industry veteran Ben Coates joined the brand as its U.S. general manager.

GBL said Canyon is conducting a review of its product portfolio "and the implementation of efficiency measures" in addition to enhancing its "omnichannel presence to bring the brand closer to riders." Canyon recently opened a flagship store in Munich.

Canyon founder Roman Arnold returned to an operational role at the company in September as Nicolas De Ros Wallace, who had been CEO, stepped down. The company said de Ros Wallace left "by mutual agreement," while Arnold moved from chairman of Canyon's advisory board to become executive chairman.

Giant Group revenue down 17% in first three quarters

Steve Frothingham — Fri, 07 Nov 2025 16:49:05 +0000

TAICHUNG, Taiwan (BRAIN) — Giant Group’s net revenue through the first three quarters of its fiscal year was down 16.9% from last year, to NT$47.96 billion ($1.55 billion). The manufacturer said its gross margin for the period was 19.8% and net profit before tax was NT$1.43 billion. Net profit after tax was NT$910 million and earnings per share was NT$2.31.

Revenue in the third quarter was 24.9% down year-over-year, but gross margin for the quarter was up to 21.5%, compared to 18.5% in the quarter last year, an improvement the company said was “mainly driven by promotional efforts for own-brand products during peak season and inventory provision reversals from sales.”

Giant said its OEM business saw nearly 20% growth in sales during the first three quarters, supported by recovering demand in Europe. Sales of its own brands recovered somewhat in Europe.

“While regional performance varied, the overall trend is stabilizing,” the company said in a release Friday. “In the U.S., consumer sentiment remained cautious due to tariff policies and macroeconomic factors. In China, revenue declined due to a high base period last year. As the year-end holiday season approaches, the Group will continue to adjust market strategies flexibly to enhance sales performance.”

The company said e-bikes were 25% of its revenue for the first nine months of the year, a slight decline from the percentage last year.

“Looking ahead, Giant Group will continue to strengthen operational resilience, respond flexibly to market changes, and steadily advance its business strategies to create lasting value and meet the expectations of global consumers,” the company said.

Clarus sales up 3% in Q3; Rocky Mounts contributes $1.5M

Steve Frothingham — Fri, 07 Nov 2025 00:15:27 +0000

SALT LAKE CITY (BRAIN) — Clarus Corp., which owns the Black Diamond outdoor brand and the Rhino-Rack and Rocky Mounts rack brands, announced third-quarter sales of $69.3 million, up 3% from the same quarter last year.

Clarus recorded a net loss of $1.6 million in the quarter, compared to a net loss of $3.2 million in the period last year.

“During the third quarter, we continued to navigate a challenging global consumer landscape,” said Warren Kanders, Clarus’ Executive Chairman. “Amidst the macro uncertainty, particularly with respect to evolving tariff policies and consumer behavior, our focus is on controlling what we can to position Clarus for sustainable, profitable growth as market conditions normalize.”

Clarus said sales in its Adventure segment — which includes Rhino-Rack and Rocky Mounts — increased 16% to $20.7 million in the quarter, compared to $17.8 million in the year-ago quarter. Clarus acquired Rocky Mounts in May; it said the Colorado-based brand contributed $1.5 million in sales during the third quarter.

Sales in the Clarus Outdoor division, which includes Black Diamond, decreased 1% to $48.7 million. Clarus said the decrease was due to a shift in timing for independent global distributor revenues into the second quarter and lower global direct-to-consumer revenues. The company also sold its PIEPS outdoor brand in July. It noted that Outdoor sales to North American retailers were up 16% in the quarter.

Clarus' stock is traded on Nasdaq under the CLAR symbol.

Fox Factory's specialty sports group 'underperforms' in Q3

Steve Frothingham — Thu, 06 Nov 2025 23:43:56 +0000

DULUTH, Ga. (BRAIN) — Fox Factory reports its net sales were up 4.8% in the third quarter, largely thanks to the company's powered-vehicle businesses. Its Speciality Sports Group (SSG), which includes its bicycle-related businesses and its ball-sports brands, had an 11.2% decrease in revenues in the quarter.

The company lowered its earnings forecast for the fourth quarter and full-year.

"SSG underperformed expectations as OEMs, distributors and retail partners actively managed toward leaner inventories ahead of year-end, which impacted our third quarter results and is reflected in our updated full-year outlook," the company said in a release.

SSG results

The SSG division includes Fox's bicycle business through the Fox, Marzocchi, Ride Concepts, RaceFace, Easton cycling and Lizardskins brands. SSG also includes Fox's Marucci business, which sells baseball and softball gear. In the third quarter, SSG sales were $133 million, down 13% from $150 million in the quarter last year. Year-to-date, SSG sales were $391 million, up from $387 million in the same period last year.

Full-company results

Fox recorded a net loss of $662,000 in the third quarter and $258 million in the first nine months.

"During the quarter, we further addressed tariff headwinds, and we made necessary investments in innovation and products," said CEO Mike Dennison in the release.  "Although these investments created near-term margin pressure that wasn't in our initial expectations, we believe they are cementing our competitive position. We are updating our near-term outlook to reflect these dynamics and remain focused on executing what we can control — operational excellence, product innovation, and strengthening our balance sheet so that we're positioned to deliver enhanced operating leverage as markets recover."

New forecasts

Fox updated its expectations for the fourth quarter, when it now expects net sales of $340 million to $370 million and adjusted earnings per diluted share of $0.05 to $0.25.

For the fiscal year 2025, it now expects net sales of $1.445 billion to $1.475 billion, adjusted earnings per diluted share in the range of $0.92 to $1.12. Previously, it had forecast full-year net sales of $1.45 billion to $1.51 billion, and adjusted earnings per diluted share of $1.60 to $2.00.

Leatt Q3 revenue rises 18% as all categories show growth

DeanYobbi — Thu, 06 Nov 2025 16:04:31 +0000

CAPE TOWN, South Africa (BRAIN) — Leatt Corporation revenue increased 18% year-over-year as all of its head-to-toe protective gear categories — mountain bike, moto, and off-road adventure riding — grew by double digits during the period.

Revenue for the quarter ending Sept. 30 was $14.34 million, compared with $12.14 million at the same time last year. Net income during the period jumped 366% year-over-year to $539,256, compared with $115,837. Direct-to-consumer sales during the quarter increased 61%.

"Our U.S. Moto and MTB sales teams are gaining momentum at the dealer level, and our supply chain team is managing shipping and logistics costs efficiently," said CEO Sean Macdonald. "... While we monitor the international trade situation, we are continuing to invest in Leatt as a global, consumer-facing brand and to build a strong, diversified, multi-channel sales organization to reach more riders world-wide."

Leatt product lines — neck braces, body armor, helmets, and other products, parts, and accessories — had year-over-year increases. Body armor sales — which includes mountain bike shoes — increased 6%, led by a 46% rise in footwear sales alone.

Year-over-year sales of other products, parts, and accessories include googles, hydration bags, and apparel items increased 53%, led by a 49% increase in revenue from mountain bike, moto, and adventure riding apparel.

Earnings per share for the quarter was $0.09, compared with $0.02 at the same time last year.

Leatt also announced that industry veteran Nick Larsen is the new head of brand, marketing, and creative.

Leatt is traded on the OTCQB markets under the LEAT symbol.

Fitness segment boosts Garmin's revenue in Q3

DeanYobbi — Wed, 29 Oct 2025 14:30:03 +0000

OLATHE, Kan. (BRAIN) — Garmin Ltd. consolidated revenue increased 12% year-over-year in the third quarter led by the Fitness segment that includes cycling products.

Overall consolidated revenue for the period ending Sept. 27 was $1.770 billion, compared with $1.586 billion at the same time last year. The Fitness segment increased 30%, from $464 million to $601 million. Demand for advanced wearables drove the Fitness increase, Garmin said, also noting the brand launched new cycling computers — the Edge 550 and 850 — and introduced coaching plans and cycling metrics to the Edge lineup.

Based on the first three quarters, Garmin updated its full-year revenue guidance, anticipating revenue of about $7.10 billion.

"Looking ahead, we are well positioned for the holiday selling season with a strong lineup of innovative products," said Cliff Pemble, Garmin president and CEO.

Year-over-year net income for the quarter increased slightly from $399 million to $402 million. Earnings per share was roughly the same, inching up from $2.08 to $2.09.

Garmin's corporate headquarters is in Olathe. Its stock is traded on the NASDAQ under the GRMN symbol. Stock quote on Nasdaq.

Shimano bike-related sales up 5% through three quarters, but operating income slumps

Steve Frothingham — Tue, 28 Oct 2025 07:30:20 +0000

TOKYO (BRAIN) — Shimano's sales of bicycle products through the first nine months of the year totaled 266,243 million yen ($1.749 billion), up 5% from the same period last year. Bicycle-related operating income in the period was down 27% from the same period last year, to 30,161 million yen.

"While the strong interest in bicycles continued as a long-term trend, market inventories remained high in some regions, and inventory adjustments progressed in line with market trends in each region," Shimano said in its consolidated financial results report.

"Overseas, in the European market, retail sales of completed bicycles were robust backed by stable weather conditions, but market inventories remained at a somewhat high level.

"In the North American market, retail sales of completed bicycles remained weak due to an uncertain economic outlook, but market inventories maintained appropriate levels," the company said.

Shimano's fishing division saw a 4.6% decrease in sales in the first three quarters, to 84,435 million yen. Fishing operating income decreased 31%. Company-wide sales were up 4.8%, while operating income decreased 28%, and ordinary income decreased 48% to 30,248 million yen, which the company said was partly due to valuation loss on foreign exchange. Company-wide net income decreased 61.0% to 16,105 million yen.

Shimano stuck to its previously announced forecast for the complete year, which calls for a 2% increase in revenue over last year, a 29% decrease in operating income, and a 60% decrease in net income.

In September, Shimano apologized after Japanese authorities cited the company for delaying payment to some subcontractors. According to a Shimano statement, the Japan Fair Trade Commission issued a "recommendation" to the company for requiring 121 subcontractors to store Shimano-owned molds and other equipment free of charge. The company also asked the subcontractors to inspect and inventory the stored equipment periodically.

Giant, Merida and Ideal see sales declines in September

Steve Frothingham — Thu, 23 Oct 2025 00:04:57 +0000

TAIPEI, Taiwan (BRAIN) — Taiwan's three publicly traded bike factories are reporting their sales were down in September, year-over-year, although Ideal Bike, the smallest of the three, recorded sales closer to flat.

Giant Group’s operating revenue in the month was NT$5.2 billion ($169 million), down 13.45% from the same month last year. Year-to-date through September, Giant’s sales totaled NT$47.96 billion, down 17.86%.

Merida Industries’ operating revenue in the month was NT$2.3 billion, down 11.22% from the same month last year. Year-to-date through September, Merida’s sales totaled NT$21.8 billion, down 8.66%.

Ideal Bike’s operating revenue in the month was NT$143.7 million, down 0.64% from the same month last year. Year-to-date through September, Ideal’s sales totaled NT$1.9 billion, up 0.33%.

Taiwanese component maker Sun Race Sturmey-Archer Inc. reported operating revenue of NT$71.7 million in September, up 16.38% from the same month last year. Year-to-date through September, the company’s sales totaled NT$611.40 million, up 12.41%.

The reports filed with the Taipei stock exchange do not include profitability figures, which are part of the companies’ quarterly Financial Reports usually released in the coming weeks.

Quad Lock acquisition continues to help Thule Group post positive sales growth in Q3

DeanYobbi — Wed, 22 Oct 2025 14:24:20 +0000

STOCKHOLM (BRAIN) — Thule Group's net sales rose 7.9% year-over-year in the third quarter aided by last year's Quad Lock acquisition. Organically, sales declined 4%.

Net sales for the quarter were SEK 2,528 million ($242 million), compared with SEK 2,344 million at the same time last year. In the North America region, Thule said it is addressing the impact of increased tariffs but also launching new bike carriers. In the fourth quarter, it plans to unveil the Xscape, which will transport skis, surfboards, rooftop tents and other equipment on pickup trucks.

Year-over-year Sport & Cargo Carrier sales were down 6% organically in the third quarter with sales of seasonal products being affected by retailers cautious about stock level replenishment at the end of the summer season, Thule said. Sport & Cargo Carriers accounted for 53% of total third-quarter sales.

North America net sales were up 10% to SEK 611 million, but sales in the region organically were down 5.3%.

"Challenges clearly remain with the North American market, but we are focusing on what we can influence and, each quarter, the development is going in the right direction," said Mattias Ankarberg, Thule CEO and president. "The market has not yet shown signs of recovery, with consumers and retailers remaining cautious in both Europe and North America."

Year-over-year net income increased 4.6%, from SEK 300 million to SEK 314 million. Earnings per share increased 2.6%, from SEK 2.84 to SEK 2.91.

In the third quarter, Thule opened a new joint sourcing office in Shenzhen, China, bringing Thule and Quad Lock colleagues together.

Thule's corporate headquarters is in Stockholm. Its stock is traded on OTCMKTS under the THULE symbol. Thule stock quote is at Marketwatch.com.