Sagging Bike Market Pulls Thule Down in Q1
Net income was nearly halved to SEK 275 million ($26.4 mm) in the first quarter against SEK 527 million, on revenues that tumbled 27% to SEK 2,226 million ($213.4 mm) from SEK 3,034 million. Americas sales plunged 40% (-45% CC) to SEK 528 million ($50.6 mm), lapping last year’s 27% surge, on a sharp slowdown in sales of bike-related products to retailers, who were focused on ... Log in to view full article.
