Thule Inc’s Q2 Sales Fall on Continued Cycling Inventory Imbalances
July 19, 2023
Thule Inc. reported another challenging quarter as sales fell 15 percent in the Swedish company’s second quarter. The decline was blamed on continued weak bike-related product sales as retailers continue to focus on reducing inventory levels. The maker of car racks and bike accessories indicated inventories had returned to more normal inventory levels in some regions.
Consolidated sales on a reported basis were down 8.6 percent to Swedish Krona (SEK) 3,029 million ($295 mm). SGB
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