SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory, which offers Fox suspension, Marzocchi, Easton cycling and Race Face products in the cycling market, saw a 15.1 percent increase in sales of bike products in the second quarter. The Q2 results cap a first half that recorded a 13 percent increase in bike-related sales.
Fox also recorded a 46.8 percent increase in powered vehicle products in the second quarter.
Across both categories, sales were up 29.8 percent to $156.8 million compared to $120.8 million in the same period last fiscal year.
“Our differentiated bike and powered vehicle market positions fueled broad-based strength across our product portfolio, resulting in record second quarter sales and profitability, both of which exceeded our expectations,” said Larry Enterline, Fox’s CEO. “We are pleased with our team’s continued execution as we further expand into new and existing end markets building upon our core bike and powered vehicle category capabilities with compelling product innovation. We believe we remain well positioned for future growth and based on these strong operational and financial results as well as our outlook for the remainder of the year, we are raising our annual guidance.”
For the third quarter of fiscal 2018, the company expects sales …read more