Shimano Q1 2011 results saw a 1.3 per cent rise in net sales (to 50,900m yen) and a 1.1 per cent rise in operating income (to 7,323 million yen).
The firm said that while retail sales in Europe were lacklustre in January – due to poor weather conditions – sales picked up in February and improved significantly by March. Sales in the US, however, have been strong all year, the firm said.
Sales of bicycle components rose 2.2 per cent, compared like-for-like with Q1 2010, to 40,802 million yen. Operating income in the sector increased 2.9 per cent to 7,182 million yen.
A statement from the components firm said: “Reflecting the high interest in cycling worldwide, shipments of Shimano products were upbeat in readiness for bicycle sales at retailers, which move into high gear in March. As a result, sales in the first quarter reached targets.”
The start of 2011 has also seen sales rise for Halfords (after a Christmas run up period where sales suffered significantly). The independent bike dealer sector, as measured by ActSmart, saw a mixed bag of results so far, with strong January sales giving way to a slump in February. The impact of the harsh winter on retail sales has been a source of debate.
Shimano added that while China and other Asian countries are likely to continue to enjoy strong growth, the turmoil created by the Japan earthquake is likely to have some impact. Shimano said it plans to produce ‘captivating products’ with agile and efficient production and logistics to tackle any concerns.