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7/18/2024 |  EXEC: Mips Posts Sharp Increase in Q2 Sales as Bike Helmets Recover (SGB UPDATE) Swedish helmet technology manufacturer Mips saw its turnaround efforts pick up significant momentum in the second quarter as the company posted strong growth and doubled its earnings for the three-month period ended June 30.
Sharp declines of the last year began to taper off into a less dramatic revenue decrease in the first quarter, resulting in mid-teens revenue growth for the six-month year-to-date period.
7/16/2024 |  EXEC: Merida Bikes’ June Sales Surge Fuels Big Second Quarter Gain (SGB UPDATE) Merida International, one of the largest bike manufacturers worldwide, reported that its monthly revenues for June 2024 increased 48.7 percent to NT$3.20 billion. This was more than enough to keep the second quarter in positive territory but not enough to push the first half into growth mode.
7/16/2024 |  Lewis Family Assumes Ownership of Live to Play Sports, Manufacturer of Norco Bicycles (SGB UPDATE) For 60 years, Live to Play Sports Group, the manufacturer of Norco Bicycles and Canada’s largest wholesale distributor of premium bikes, parts and accessories, has been independently owned and operated in a partnership between the Lewis and Zalkow families. As of July 1, the Lewis family assumed full ownership of the company.
7/11/2024 |  EXEC: Accell Group Mired in Legal and Financial Woes in Cargo Bike Recall (SGB UPDATE) Accell Group recently shared business and financial updates with shareholders and business partners outlining its most recent performance, the recall status of the Babboe Cargo Bike and repair operation, and progress in executing the One Accell strategy.
However, the news reports surrounding the Babboe recall and its pace have created financial, legal and other woes for the parent company.
7/10/2024 |  Garmin Releases Cycling Activity Report for Garmin Connect Community (SGB UPDATE) Garmin released a report highlighting how cyclists around the world are logging miles and the positive health benefits they’re seeing as a result. The report, generated using data from the Garmin Connect community of cyclists who log their miles on Garmin Edge cycling computers, shows that cycling activities are on the rise—and they don’t appear to be slowing down anytime soon.
The company said it can see from the data that cyclists are pushing harder year-round, whether that’s in pursuit of one day completing a race or simply for the enjoyment of time spent on a bike.
“Whatever the motivation, it’s clear that Garmin cyclists aren’t slowing down,” the company said in a media release.
Based on the data compiled by Garmin over the last 12 months, cycling activities have increased 7 percent for people that are part of the Garmin Connect community of cyclists who log their miles on Garmin Edge cycling computers. The increase is normalized to account for cyclists who purchased their first Edge device during the same time frame. Indoor cycling activities rose 12 percent year-over-year.

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