For the quarter ended 31st March 2020, Shimano’s net sales from the bicycle components segment decreased 15.4%, compared like-for-like with the same period last year, to 58,868 million yen, (A$841 million) while operating income decreased 26.1% to 10,298 million yen (A$147 million).
In Europe, Shimano noted strong retail sales of completed bicycles, particularly e-Bike’s, but from mid March sales declined rapidly and distributor inventories in Europe increased rapidly.
In North America, retail unit sales of completed bicycles had been strong, again supported by good weather, but then plummeted in March, thanks again to coronavirus, seeing distributor inventories at a high level.
The pandemic also slowed retail sales in China, although distributor inventories generally remained at an appropriate level, said Shimano.
Shimano did not make any comment about the Australian market.
Most of this article was first published in Cycle Industry News (UK)