Even with cold and wet weather in January and February across its northern hemisphere key markets, Shimano saw its sales increase and managed to beat its own forecast for the first half of 2010.
Shimano’s bicycle business rode out the poor weather conditions particularly well; and reported a 19.8% gain in sales for the first half of this year, compared to the same period in 2009. A pleasant summer thus far in Europe and North America aided advance orders and buoyed up the first half performance.
Shimano sold US$936 million in bike parts during the first six months, compared to US$781 million in the first half of 2009.
The company attributed its overall bike sales growth to the strength of trading in the March to June 2010 period. Much of the gain was from a replenishing of inventory that had been drawn down by the bike trade amidst a difficult economic backdrop.
Shimano also reported that its new 105 (road bike) and Deore XT and SLX (mountain bike) component groups had sold well.
While Shimano officials said economic recovery in major markets such as Europe, North America and Japan remained unpredictable, the company has increased its overall 2010 sales forecast to US$2.4 billion.
