Articles on this Page
- 11/03/17--15:55: _Jim Felt departing ...
- 11/06/17--04:00: _Vittoria Industries...
- 11/06/17--07:23: _Mission Workshop la...
- 11/06/17--09:21: _Tern and Bosch ente...
- 11/06/17--09:57: _Backcountry Lifelin...
- 11/06/17--15:38: _Philly Bike Expo at...
- 11/06/17--16:00: _Ti builder No. 22 a...
- 11/07/17--08:00: _Rad Power Bikes exp...
- 11/07/17--08:26: _Dockless bike share...
- 11/07/17--10:25: _Jake Duehring to le...
- 11/07/17--10:35: _Norco recalling chi...
- 11/07/17--11:15: _ProViz Nightrider L...
- 11/07/17--14:25: _Brooklyn's Red Lant...
- 11/07/17--15:11: _Denver retailer suf...
- 11/08/17--08:17: _Velofix hires Drew ...
- 11/08/17--08:32: _Specialized donates...
- 11/08/17--09:05: _BTI launches house ...
- 11/09/17--08:26: _Online registration...
- 11/09/17--10:15: _Vista Outdoor sees ...
- 11/09/17--13:26: _Park Tool holds thi...
- 11/03/17--15:55: Jim Felt departing Felt Bicycles
- 11/06/17--07:23: Mission Workshop launches Rhake City Backpack
- 11/06/17--15:38: Philly Bike Expo attracts record exhibitor and attendance count
- 11/07/17--08:00: Rad Power Bikes expands into international markets
- 11/07/17--08:26: Dockless bike share operator Ofo launches in South Miami
- 11/07/17--10:25: Jake Duehring to lead Felt Bicycles' sports marketing
- 11/07/17--10:35: Norco recalling children's bikes because of crank failures
- Storm 2.1
- Storm 4.1
- Charger 2.1
- Charger 4.1
- Fluid HT 2.3
- Fluid HT 4.3
- Fluid FS 2.2
- Fluid FS 4.2
- 11/07/17--14:25: Brooklyn's Red Lantern Bicycles closing
- 11/07/17--15:11: Denver retailer suffers break-in, learns some lessons
- 11/08/17--08:17: Velofix hires Drew Axt as program manager
- 11/08/17--08:32: Specialized donates kids' bikes to Sonoma fire victims
- 11/08/17--09:05: BTI launches house brand Circ inner tubes
- 11/09/17--08:26: Online registration opens for fourth annual e-bike summit
- 11/09/17--13:26: Park Tool holds third annual Community Tool Grant Program
SALEM, Mass. (BRAIN) — Vittoria Industries North America has promoted Jason Croom to national sales manager.
"I have spent 14 years working with Vittoria Industries North America participating in different aspects of the company," said Croom. " I feel this gives me a special insight on how our company functions, and that I can utilize this knowledge in making us a stronger competitor in this ever-challenging market place.
"My aspiration for the new position is to continue to grow our business, as well as the exposure of all our traded brands among IBD's."
EJ Riordan, VINA's president, said, "Jason was the logical choice. His corporate experience, attention to detail, and motivation give him a combination of traits that we need to drive sales in today's market. He is a big picture thinker, who is still able to execute on the ground level and across various channels, which is rare."
Besides Vittoria products, VINA distributes 3T, Selle Italia, Catlike, Rhinomed, and Opus bikes.
Croom can be reached at J.Croom@Vittoria.com.
SAN FRANCISCO (BRAIN) — Mission Workshop's new Rhake City Backpack is built to hold everything needed for work, play, and the occasional overnight. Purpose built pockets are designed for a laptop, iPad, phone, power chargers, keys, sunglasses, and water bottle.
Additionally, the weatherproof 22-liter main compartment can grow or shrink as needed to hold gear and clothing.
Like all Mission Workshop packs, The Rhake is built with two-layer weatherproof construction to keep gear safe and dry.
Available in special edition 500d MultiCam Black with mil-spec AustriAlpin Cobra buckles, or a standard issue high-tenacity HT500 in black, gray, or olive, featuring U.S.-made Duraflex buckles.
The bag is made in the U.S. and guaranteed forever.
More information: missionworkshop.com.
TOKYO (BRAIN) — Tern partnered with Bosch eBike Systems to enter the Japan market with a new folding e-bike the brands showcased at the Tokyo Motor Show in the Bosch booth. The show, which closed Sunday, marked Tern's entry into the Japan e-bike market; Japan is Bosch's first e-bike market in Asia.
"Japan is the original e-bike market," said Tern's Josh Hon. "Moderately powered 'mamachari' e-bikes are widely used by parents sending kids off to school. But with the recent e-bike boom in Europe and North America, e-bikes have evolved in power, capability, and sophistication. We're excited to partner with Bosch to bring forward-thinking designs to Japan, and get even more people out riding."
Tern's new concept bike takes the core technology of Tern's Vektron bike family and combines it with Bosch's 2018 Active Plus system. The newest Bosch system is lighter, more compact, quieter, and more efficient than the previous Bosch systems. The company said that when ridden without power support, the system offers barely any resistance. Tern's bike features an integrated rack, convenient battery placement, and comes in under 20 kg. It's designed for multi-modal commuting, family transport, and personal transportation.
"Bosch is the global leader in e-bike systems and Tern is a leader in urban transport bikes," said Hon. "Changing consumer perception and habits in the competitive Japan market won't be easy but we couldn't have better partners than Bosch and our local distribution partner Akibo Corporation."
BOULDER, Colo. (BRAIN) — Backcountry Lifeline and The 139 Fund are teaming up to raffle a Specialized Levo Comp 6Fattie, as well as other prizes, to benefit The 139 Fund, which helps support BCLL's ongoing efforts in mountain bike safety.
Specialized is supporting the fundraiser for the second year in a row, along with sponsors Maxxis, Yeti, Smith, Osprey and Muc-Off.
"We couldn't do what we do without our sponsors," BCLL co-founder Bonnie McDonald said. "Their support has been integral to our mission. Every time we talk to them, they say 'We love what you're doing; it's the right thing to do; how can we help?' Helping us raise money through the giveaway is just another way they're leading by example, trying to help make mountain biking safer."
Raffle tickets cost $10 and give a chance to win over $9,000 in prizes including products from Maxxis, Smith, Osprey and POC, in addition to the grand prize from Specialized. Each prize comes with a custom BCLL first aid fanny pack kit.
Tickets are available until Dec. 10 at backcountrylifeline.com/fundraising.
The 139 Fund is a 501(c)(3) non-profit organization founded in honor of Will Olson, who died on stage 3 of the Big Mountain Enduro/Enduro World Series race in Crested Butte, Colorado, in 2015. The 139 Fund supports Backcountry Lifeline, which conducts first aid education for bike events and sells custom first aid kits.
PHILADELPHIA (BRAIN) — The Philly Bike Expo attracted a record number of exhibitors and attendees, organizers said, and the show's first attempt at trade-only hours attracted about 150 registered industry members, including retailers and suppliers.
The show sold 4,213 tickets and featured 177 booths, including many custom frame builders, along with cycling organizations.
Show director Bina Bilenky said, "Everybody seemed really happy with the way the show went, and this year the cycling media have realized it's an event worth attending. Attendee interest is amazing. On the East Coast attendees ranged from Maine to Florida, but also they came from the Midwest: Ohio and Illinois, and some came from as far as California." The farthest traveling exhibitor is thought to be Rookey Cycles, from Seoul, South Korea.
This year for the first time the show held trade-only hours each day, when only registered industry members were allowed in.
"Lots of industry came that hadn't heard about the industry pre-reg," she told BRAIN on Monday. "Hopefully the second year is bigger with industry pre-reg."
Massachusetts-based 1854 Cycling Co. attended primarily to reach retailers as the brand transitions from internet sales to IBD sales. Owner Brandale Randolph said he signed up at least 20 new retailers at the show.
"It went great," he told BRAIN. "I am still working out deals with several other (retailers)."
Titanium frame builder No. 22 Bicycle Company used the show to introduce its new stock bike program. Company co-founder Mike Smith said the show was a success.
"(It) seems like the show has seen a lot of growth this year, and yesterday was very well attended," he told BRAIN on Monday. "I think it will have a place on our calendar for some time if it keeps up."
Fellow titanium brand Moots, from Colorado, attended its first Philly show.
Moots Jon Cariveau said Moots was able to reach retailers, consumers and media at the show.
"The show exceeded our expectations and we will go back next year for sure," he said. "We definitely were able to touch base with a few customers interested in or already in process of buying and I think that interaction we had will definitely pay off in a few immediate bike sales ... We had a solid dealer outreach and were able to connect with existing and potential new dealers directly in Philly and one in Manhattan. It was great place to get the inside scoop on shops and customer feedback on the shops they prefer to work with."
Bilenky said she was gratified to see the number of families with young children who attended. The show included a kid's bike track sponsored by Pello and an ArtBike! Expo where kids could create bike-themed art.
"What's so exciting to me about this is that the kids here are having fun with cycling, they're enjoying their time riding on the kids' course and painting in the ArtBike area. It's not like they're being dragged here by their parents. It's like me as a child, cycling was part of my life and I loved it. So these kids are the next generation of cyclists," said Bilenky.
The show has its roots as a handmade frame expo, and nearly 30 frame builders exhibited. The People's Choice winner, announced Sunday afternoon, was a disc-braked road bike built by Chris Bishop. The No Bull Fat Trike with twist grip steering by Cycles Ed was first runner-up and an off-road bike from Julie Ann Pedalino as second runner-up.
"When Philly Bike Expo started out, I think a lot of people thought it was a frame-builder-only show, a smaller version of NAHBS, because it was started by Bilenky," Bina Bilenky said. "But that was never the vision for this show. Frame builders are an important part of it, but there are other important parts too, and I think in recent years companies have been to the expo or read about it and understood how much broader it is, that it's for everybody who's into cycling, and now we're getting some traction in the cycling industry."
She said next year's show will be held in the same hall at the Pennsylvania Convention Center, in Philadelphia, Oct. 27-28.
PHILADELPHIA (BRAIN) — No. 22 Bicycle Company, a Toronto-based handmade titanium frame builder with a factory in upstate New York, announced its first line of stock bikes at the Philly Bike Expo over the weekend.
No. 22 has been offering custom frames since 2014 from its factory in Johnstown, New York, which was established by several former craftsman from Saratoga Frameworks.
Typically, the lead time for a new custom No. 22 frame is 8-10 weeks. The new stock lineup will make bikes available in two weeks.
The stock line includes three models: the Great Divide, the Great Divide Disc and the Drifter, each available in standard frame sizing. Customers can select the frame's size, finish and other options.
The bikes all feature a No. 22 full carbon fork and aluminum stem, both custom painted by Velocolour, a No. 22 titanium seatpost, custom finished to match each frame, a complete Shimano Ultegra 8000 groupset with mechanical shifting, Reynolds carbon tubeless wheels and Schwalbe tubeless tires.
The frames are available in either a raw titanium finish or with two anodized options. The fork, stem and seatpost are finished to match. Anodizing is done in-house and paint is by Velocolour.
Bike prices range from $5,999 for a Great Divide in raw finish, to $6,799 for the Great Divide Disc or Drifter with a raw finish.
The first round of stock bikes will leaving the factory in early January. No. 22 will continue to offer made-to-order framesets and bikes as well.
More information: 22bicycles.com.
SEATTLE (BRAIN) — Rad Power Bikes is now selling into 28 European countries including Germany, France, the Netherlands and the United Kingdom, following a two-year debut in the United States. Beginning this week, consumers in these new markets can purchase Rad Power Bikes' exclusive European model, the RadRhino, with free shipping.
"We are pleased today to introduce an incredibly high-quality, affordable electric model exclusively to our new European markets, where their wonderful bicycling infrastructure has helped fuel pent up demand for an e-bike model like the RadRhino," said Mike Radenbaugh, the president of Rad Power Bikes. "We've enjoyed tremendous growth and success in the U.S. over our first two years, which has paved the way for today's announcement. We very much look forward to serving our fans and followers in many European markets that are world-renowned for their incredible bicycle culture."
Rad Power Bikes also began sales into Canada last month.
The 750-watt RadRhino is modeled after Rad Power Bikes' flagship model the RadRover. It has a top speed of 25 kph and can be ridden like a moped with the throttle fully engaged. It uses 26x4 inch fat bike tires and will retail for 1,699 euros.
More information at radpowerbikes.eu/products/radrhino-electric-fat-bike.
SOUTH MIAMI, Fla. (BRAIN) — Ofo, a dockless bike share operator, has begun operations in South Miami today.
The mayor of South Miami, Phillip Stoddard, and other elected officials celebrated the start of the program at an event held Tuesday morning at City Hall.
"We are very excited to welcome Ofo to our city," said Mayor Stoddard. "We are forward-thinking in South Miami, and station-free bike-sharing is another way to bring another technology to our community that can change the way residents experience their city, help tourists get around, improve access and positively impact our environment."
Bicycles are located using a GPS finder on Ofo's mobile app and are equipped with a smart lock on the rear wheel. Users can unlock the bikes by scanning a QR code on the bike using their phones. Rides cost $1 per hour.
"This marks the beginning of ofo's presence here in the Southeast," said Chris Nakutis Taylor, the head of Ofo in the U.S. "We are grateful for the mayor's support, and we are looking forward to building our presence here, across Florida and beyond."
Ofo operates in over 180 cities across 17 countries, including Seattle, Washington, D.C., the greater Boston area and Colorado. It launched in Dallas last week.
RANCHO SANTA MARGARITA, Calif. (BRAIN) — Jake Duehring will head up Felt Bicycles' sports marketing activities following the departure of founder Jim Felt last week from the company. Duehring has more than ten years of experience at Felt in marketing, product development, and, most recently, international sales.
Duehring has also been a sponsored athlete of Felt Bicycles, competing with the U.S. National Team on the track for three and a half years. During this time, he won four Elite National Track Championship titles and two Pan American Championship titles.
Adam Micklin, Felt's vice president of global sales and marketing, said, "Jake brings great credibility to Felt's sports marketing with his background in both the business of cycling as well as his success as a competitive athlete. He has a tremendous understanding of all things Felt Bicycles, but perhaps just as important, he understands the mentality of racing and the view of cycling from the athlete's perspective. With the departure of Jim this past week, we wanted to make sure that we would have a person that genuinely understands both of these and would have the trust of our partners. Jake is also motivated to find new ways to promote our athletes and their phenomenal accomplishments. This will be a noticeable evolution in our marketing initiatives going forward."
Felt Bicycles was purchased by Groupe Rossignol in April. The company sid Duehring will "lead an evolution of Felt's Sports Marketing activities by continuing to deliver the most advanced cycling products for the athletes but with a strategy and investment to promote Felt's activities and athlete stories that make these possible."
Duehring said, "I'm excited to take on this new direction for Felt and look forward to expanding our worldwide message about how we support athletes to achieve their very best."
WASHINGTON (BRAIN) — Norco is recalling about 1,050 childrens bikes in the U.S. and 1,750 in Canada because the bikes' Samox cranks can bend or break in use. The company has received four reports of cranks bending or breaking; none resulted in injury, according to the company.
Consumers can contact Norco at 800-663-8916 between 8:30 a.m. and 5 p.m. PT Monday through Friday, or visit norco.com/samox-crankset-recall. Consumers can also contact their local Norco Bicycles dealers to request installation of a new crankset.
The recall involves 2015, 2016 and 2017 model year Norco children's bicycles with Samox SAC30-111NA square taper bicycle cranks in 140mm and 152mm lengths. The crank model number AC30 is located on the inside of both crank arms, and the crank length is stamped at the end of each crank arm (see crank photos below). Included in this recall are 20- and 24-inch wheeled bicycles with the following model names:
The model name is located on the toptube.
Consumers are being told to immediately stop using the recalled bicycles and contact an authorized Norco Bicycles dealer for free installation of a new crankset.
The bikes were sold from May 2016 through September 2017 for between $400 and $1,700.
LONDON (BRAIN) — Proviz' new Nightrider LED cycling jacket incorporates machine washable LED lights into the jacket to aid with visibility.
The jacket has three white LED lights on each forearm, and five red LED lights on the lower back. The lights are powered by a small USB rechargeable battery pack housed in an inside pocket. The battery pack is operated from the outside (so no need to unzip the jacket) with a touch of a button that allows the user to choose from three different lighting modes; flash, fast flash and constant.
The jacket is designed to have a fitted cut, and it is manufactured from a polyester material for breathability and waterproofing. The jacket also has an inside soft-touch mesh for added comfort along with multiple pockets, underarm zippers and shoulder vents, adjustable cuffs, reflective panels and waterproof zippers. It is available in men and women's versions.
The retail price is $185.
More information: provizsports.com/en-us/
BROOKLYN, N.Y. (BRAIN) — Retailer and café Red Lantern Bicycles is closing after seven years in business in Brooklyn's Fort Greene neighborhood. Owners Brian and Lena Gluck shut down the café at the end of October in order to sell off its equipment while continuing to service bikes through the end of November, when the shop will close.
Red Lantern sold a mix of refurbished bikes as well as new city bikes from local supplier Brooklyn Bicycle Co. and cargo bikes from Xtracycle.
"I was a Raleigh dealer for a couple years, and it went really well. But the sales just started to tank a couple years ago when companies started going direct to consumer. So I got out of that and went to used bikes," Brian Gluck said.
He decided to close due to a number of factors, including an annual rent increase that continued to outpace his sales growth. "So we just decided we'd finish out the year and not go through another winter and call it quits now before the next increase kicked in," Gluck said.
"And with the coffee shop, a Starbucks opened two blocks away and just decimated our walk-in traffic," he added.
Additionally, the expansion of the Citi Bike bike share system, now numbering more than 10,000 bikes, has had a negative effect on bike sales, Gluck noted.
"It wasn't this gateway drug I thought it was going to be, where it was heavy and clunky and they'd want to get a new bike. That never happened. There was never a connection. I think the customer is compromising between it not getting stolen, not having to maintain it, and not having to lug it up four flights of stairs," Gluck said.
Red Lantern also ran a Free Bike Program in which the shop would refurbish donated kids' bikes and give them away on the sales floor. Gluck estimates that this summer he got 40 to 50 young riders onto bikes through the program.
"Some people wouldn't know about it, and they'd ask about a bike and the kid would try it out. Then they'd ask how much it was, and I'd say it's free. That was the best moment of my week," he said.
DENVER, Colo. (BRAIN) — Someone drove a pickup truck through the front of SloHi Coffee + Bike early Saturday, then loaded up the truck with seven pricy bikes and drove off.
Owner Adam Williams is a bike retail veteran, but told BRAIN the experience still taught him a few things, like: always record bike serial numbers, consider locking up bikes at night, and consider using small GPS trackers in display bikes.
"There are a lot of little things that shops are not good about doing that could make life easier when something like this happens," Williams told BRAIN on Tuesday, as he completed insurance paperwork related to the break-in.
SloHi is a small bike shop and a coffee shop that Williams runs as standalone businesses, with a large opening between the cafe area and the bike shop.
Security cameras show that the thieves — three or four males — cased the location for several hours before finally driving right through the front of the coffee shop part of the business.
"The whole front of the coffee shop is mostly gone," Williams said. Once inside, the thieves very quickly grabbed bikes, including several e-bikes, and some carbon gravel bikes, a carbon mountain bike and a custom Rodeo Traildonkey adventure bike. "All expensive bikes," Williams said. He said police later found the truck, which may have been stolen as well.
After seeing the store damage early Saturday, Williams took a photo for the shop's Instagram page and was surprised by the outpouring of community support.
"It felt funny sending it out, because I'm not one to talk about myself, and it was kind of a pity post. But at that point it was five in the morning and I just said, 'I don't care,' and sent it. And it got shared about 100 times, with people from all over leaving messages, so it was nice to see."
Williams was able to quickly re-open both businesses with a temporary plywood covering. Customers are using markers to leave comments on the plywood, like signatures on a cast, with a free drink offered to the best joke. While the store is rebuilding, Williams also signed a lease this week to open a second location soon.
VANCOUVER, British Columbia (BRAIN) — Velofix has hired Drew Axt is its new program manager for Velofix Direct and key suppliers. Axt was formerly with Accell Group, and prior to that he managed sales for Endura and worked in field marketing efforts for Trek.
"I'm very excited to join the Velofix team, a company with a huge future and potential," said Axt.
Velofix also announced several other new hires: Kevin Riback joins as marketing & retail manager, Cheylene Rondpre joins as customer service operations manager, Sam Porter joins in customer support, Samuel Gibbs in fleet support and Brian Vangel as the newest franchise success manager.
"We are excited to have these quality individuals join us. We have the right team in place to continue to drive growth and support our franchise partners," said Chris Guillemet, Velofix' CEO and co-founder.
MORGAN HILL, Calif. (BRAIN) — Specialized Bicycles is donating more than 250 bikes to kids in the Sonoma County community where wildfires have devastated many homes and businesses.
"Although we can't fix or replace all things lost we would like to do our part to make life feel a bit more normal," the company said in a letter to dealers. "Bikes have a way of putting a smile on faces, which can make all the difference right now."
The donation will go through the King Ridge Foundation, a Santa Rosa-based 501(c)(3) nonprofit that through Levi's GranFondo has raised more than $2.5 million for charity since 2009.
In 2015, King Ridge Foundation raised more than $60,000 for relief efforts in connection with the Valley Fire, one of California's most destructive wildfires. King Ridge Foundation's mission is to give at-risk youth a chance.
Specialized is also working with the Redwood Empire Mountain Bike Alliance (REMBA), which is raffling off tickets for a Specialized bike. Proceeds from the raffle will go toward rebuilding trails and networks in Northern California. For more on the raffle go to bikereg.com/sworks.
SANTA FE, N.M. (BRAIN) — BTI is now selling inner tubes under its new house brand, Circ. The distributor said the tubes offer margins starting at 200 percent and are packaged in a color-coded system that makes it easy for shops to find the right size.
The Circ brand is short for "circle," the company said.
"The brand will evolve as a mid-tier range featuring shop staples, including parts, tools, and accessories," BTI's president, Preston Martin, said.
The tubes are available in two varieties: Deluxe tubes are made with 0.85 mm thick butyl rubber; Defiant models are thorn resistant, with a 4 mm thickness on the tire side. The Eco valves on tubes 24-inch and smaller comply with CPSIA low lead mandates and all Circ tubes have removable valves for sealant injection.
BTI said the color coding system features "warm natural hues and large graphics that are easy to read from every angle." Cartons are stackable or can be hung with an integrated fold away hang tag.
Circ is one of BTI's "Hero Brands" in the company's Margin Booster order window, which ends Nov. 14. Qualifying tube orders receive an additional 5 percent discount for 10 weeks.
Martin said, "When we started developing a house-branded tube program, we had three objectives in mind: quality product, smart packaging, and fat margins for retailers. With Circ tubes, dealers can expect 200 percent margins. Better yet, profitability improves when shops buy in case quantities, or through BTI's Margin Booster program."
More information: bti-usa.com.
BOULDER, Colo. (BRAIN) – Online registration has opened for the annual E-Bike Summit hosted by the Bicycle Product Suppliers Association and PeopleForBikes. The event, to be held Dec. 14, provides an opportunity to network, learn about their work to help grow the e-bike market, and be part of the 2018 e-bike initiative agenda.
The summit will be held from 8:30 a.m. to 4:30 p.m. at Shimano North America's Irvine offices.
Among the topics on the agenda are:
• E-bike industry challenges and solutions
• Engaging retail and gaining IBD support for the category
• BPSA's e-bike training videos
• 2018 plans and how competing groups can work together more effectively to advance e-bikes
• Improving e-MTB access through maps
• E-bike sales, consumer behavior, market trends and new technologies
Cost to attend is $150 per ticket and includes breakfast and lunch. Attendees can register at eventbrite.com.
Those interested or who have questions can contact Morgan Lommele, PeopleForBikes/BPSA e-bike campaigns manager, at firstname.lastname@example.org or 720-470-2981.
FARMINGTON, Utah (BRAIN) — Vista Outdoors, the owner of Bell, Giro, Blackburn, Bollé, CamelBak and other brands, saw a 9.1 percent decline in sales in its most recent quarter in its Outdoor Products division, which includes those brands. The division's sales would have looked worse if not for the inclusion of sales from Camp Chef, a recent acquisition. Organically (that is, not including Camp Chef), the division saw a 12.7 percent decline in revenue, which the company said was driven by "lower sales across most product lanes."
Sales in the division were $292 million, down from $321 million in the same period last year.
But the Outdoor Product division out performed Vista's Shooting Sports division, where sales fell 18.7 percent in the quarter, to $296 million, down from $364 million last year. Profits in the division plummeted 37 percent, from $102 million to $63 million.
The company announced Thursday that it was restructuring its Shooting Sports executive structure, eliminating the division's president. It also said it would sell the Bollé, Serengeti and Cébé brands. All three brands are best known for their eyewear, but Bollé also offers bike helmets.
As expected, the company also announced that its board of directors has named Michael Callahan to serve as chairman.
Chris Metz, the company's new CEO, said, "While I've only been here a short time, I realize we have much to do: we must make significant changes, act decisively, and move quickly to reposition and stabilize the company. We will take an aggressive position on profit improvement through both margin expansion and cost reductions across all areas of the core business.
"We're in the process of completing a portfolio review of our brands, and we will divest assets where we see the potential to unlock shareholder value. As a first outcome of this process, we are announcing our intention to sell the Bollé, Serengeti and Cébé brands in the Sports Protection business. These brands were acquired as part of the Bushnell transaction in 2013 and focus primarily on fashion, prescription and safety eyewear, which are areas that we have determined are not core to our business. The sale of these brands is expected to take place over the next few quarters."
Across all its divisions Vista Outdoor's sales were $587 million in its fiscal Q2 2018, which ended Oct. 1, 2017. That was down 14 percent, when Camp Chef's revenues of $12 million were included. Not including Camp Chef, sales were down 16 percent.
CFO Stephen Nolan announced revised financial guidance for the remainder of the year.
Nolan said the company now expects sales in a range of $2.24 billion to $2.26 billion, from a prior range of $2.36 billion to $2.42 billion, and adjusted EPS of $0.50 to $0.60, down from a prior estimate of $1.10 to $1.30.
Nolan noted that Vista Outdoor's sports protection business, which includes Bell and Giro, has been "impacted by the ongoing challenges facing the cycling industry broadly and by reduced retail space for our products."
Vista's stock traded down nearly 24 percent in premarket trading Thursday, at $14.12. Its 52-week range had been $17.86 to $41.29.
ST. PAUL, Minn. (BRAIN) — Park Tool is launching its third annual Community Tool Grant Program, which awards 10 nonprofit bike programs with more than $1,400 in Park Tool products.
Park Tool is accepting applications from community-oriented, cycling-based programs.
Each grant recipient will receive a Park Tool PK-3 Professional Mechanic Tool Kit, two PCS-10 Portable Repair Stands, a Big Blue Book of Bicycle Repair and five Park SA-1 shop aprons.
"The response to the grants has been tremendous over the past two years. There is a large need for these nonprofits to have quality tools and we are happy to partner with them to provide them. The Park Tool Community Grant Program will, once again, help deserving nonprofit organizations get the tools and repair stands they need to help them give back to their neighborhoods and communities," said Eric Hawkins, Park Tool's president and chief mechanic.
Applications for the grants will be accepted from Nov. 1 — Dec. 31 at www.parktool.com/form/community-tool-grant-request. Winners will be announced in mid-January.