Bicycle Retailer had this glimmer of hope for all those associated with bicycles.
OSAKA, Japan (BRAIN)—Sales in Shimano’s bicycle segment soared almost 20 percent during the first three quarters of the year as the world economy showed signs of recovery, according to nine-month earnings figures released by the company on Wednesday.
Sales rose 19.7 percent to 123 billion yen ($1.47 billion) during the first nine months of the year compared with the same time period last year and operating income increased 79.4 percent to 23.9 billion yen ($287 million).
“As a result of robust retail sales in the U.S. and Europe since the spring of 2010, worldwide distribution inventories of bicycles were at almost normal levels except in certain markets. In these circumstances, manufacturers of finished bicycles shifted to new models smoothly,” the company said in its earnings report.
Products introduced in the second quarter, primarily Shimano’s new 105 road group and Deore XT and SLX mountain bike components, continued to enjoy brisk sales in the third quarter, the company said.
Shimano Cycling Numbers Up Over Last Year
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