Bicycling

12/7/2023 |  Pierer Mobility to Sell Felt Bicycles (SGB UPDATE) Pierer Mobility reported it will sell the Felt Bicycles and R Raymon bike brands as part of a divestment of its non e-bike business, to enable the Austrian-based company to focus on its core e-bike and motorcycle brands.
The company’s motor-powered brands include KTM, Husqvarna, GasGas, and MVAgusta.

12/4/2023 |  PeopleForBikes Highlights Bike Industry Contribution to U.S. Economy (SGB UPDATE) PeopleForBikes reported it took a deeper look into the Bureau of Economic Analysis (BEA) recently released 2022 report that estimated the U.S. outdoor recreation economy contributed $1.08 trillion to the U.S. GDP in 2022.

11/13/2023 |  EXEC: Giant Group October Sales Fall One-Third, Adds to Negative YTD Trend (SGB UPDATE) Giant Group reported its nine-month year-to-date (YTD) results and worsening trends in October top-line sales that cut into that trend even more. The Taiwanese bike brand said that although it saw strong growth from the China domestic market, the weak demand from the U.S. and Europe markets on the entry to mid-level products and the high inventories within the distribution network resulted in the decline in sales.

11/6/2023 |  Leatt’s Q3 Revenues Tumble 48 Percent on Sluggish Orders (SGB UPDATE) Leatt Corp., the maker of protective equipment for adventure sports, reported sales tumbled 48 percent in the third quarter and 43 percent in the nine months due to “constrained industry-wide ordering patterns.” CEO Sean Macdonald said the results faced challenging year-ago comparisons and “do not reflect the current marginal uptick in sentiment that we are experiencing at the dealer and consumer level.”

10/30/2023 |  USA BMX Signs Contract with Visit Annapolis and Anne Arundel County (SportsTravel) USA BMX has announced a multi-year contract with Visit Annapolis and Anne Arundel County that allows Chesapeake BMX in Severn, Maryland, to host the East Coast Nationals in 2024, 2026 and 2028.