Net income attributable to shareholders more than doubled in the second quarter to ¥27,411 million ($250.6 mm) from ¥11,543 million as revenues jumped 66% to ¥138,268 million ($1,263.9 mm) from ¥83,335 million last year. Widespread vaccinations in the U.S. got more people out of the house and active, driving spending on personal consumption, but Europe saw a more gradual improvement, while Japan returned to a state of emergency in April, dampening consumer confidence. Gross margin expanded 310 basis points to 42.0%, while SG&A was up 26%, but leveraged 470 b.p. on the higher sales.

Bicycle component sales were up 71% to ... Log in to view full article.