Mips’ Topline Hit Hard by Bike Market Softness
Net income at the Swedish helmet tech company tumbled 52% to SEK 14 million ($1.3 mm) from SEK 29 million in the third quarter, on sales that declined 32% to SEK 77 million ($7.1 mm) from SEK 113 million. Lack of demand in the stagnant bike helmet segment was blamed for most of the drop, but sales gradually improved through the quarter now that retail inventory has mostly returned to normal levels. Inventory ... Log in to view full article.
