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Thule reports ‘rapidly declining’ demand for bike-related products in third quarter

October 31, 2022

Thule Group has published its interim report for July to September 2022, reporting a 23% decline in third-quarter sales year-on-year. Net sales for the quarter amounted to SEK 2,139m. Adjusted for exchange rate fluctuations, sales declined 29.4%. Net sales for the first nine months of the year amounted to SEK 8,487m, corresponding to a decrease of 0.6%. Adjusted for exchange rate fluctuations, sales declined 7.1%. BikeBiz