Fox Factory Posts Q1 Loss as Sales Fall in Mid-Teens, Bike Sales Post $65M Decline

May 2, 2024

Fox Factory Holding Corp. reported a 16.6 percent decrease in net sales for the first quarter to $333.5 million compared to net sales of $399.9 million in the first quarter of fiscal 2023.

Aftermarket Applications Group (AAG) net sales declined $36.9 million, or 26.6 percent, year-over-year. The decrease in AAG net sales to $101.9 million was driven by lower upfitting sales due to product mix and higher interest rates impacting industry dealers and consumers.

Powered Vehicles Group (PVG) net sales decreased $24.1 million, or 17.0 percent, to $118.1 million due primarily to lower industry demand in Power Sports because of higher interest rates. SGB Media