Shimano’s bike-related sales down 18% in first half
July 25, 2023
Shimano says interest in bicycles globally continues as a long-term trend, but that macro-economic conditions and industry inventory levels contributed to a 17.7% decline in sales in its bike business in the first quarter this year, compared to the same period last year.
Net sales in Shimano’s bike-related business were 204,986 million yen ($1.45 billion) in its first half, which ended June 30. Operating income in the segment decreased 39.5% to 42,093 million yen. On a quarterly basis, second-quarter sales were down 18.6% from the same period last year in the bike division, while operating income in the segment was down 7.5% in the quarter. Bicycle Retailer