HELSINKI, Finland (BRAIN)—Mavic's net sales declined by 14 percent for the first nine months of the year, according to earnings report released Thursday by Mavic’s parent company, Amer Sports.
For the third quarter ending September 30, Mavic's sales declined 10 percent. Amer's cycling division recorded sales of 21.5 million euros, compared with 23.5 million euros during the third quarter of 2008.
In a press release, Mavic's 14 percent net sales decline reflected the impact of the R-Sys recall in January, a weak U.S. economy, a general trend towards lower inventory at independent bike dealer level (IBD) and a significant decline in OEM sales.
Mavic apparel and footwear product lines have been well received in the market, according to the release. On September 1, Amer Sports announced that it is currently exploring strategic alternatives regarding its cycling business, Mavic. Among other alternatives, the strategic review may result in a divestiture of this asset.
