Brief: Thule CEO Comments On Q3

Thule AB

27/10/2022 06:57

Oct 27 (Reuters) - Thule Group AB  THULE.ST :
    * CEO AND PRESIDENT, MAGNUS WELANDER: IN Q3, WE SAW RAPIDLY
DECLINING DEMAND FOR BIKE-RELATED PRODUCTS
    * GLOBAL BIKE STORES SIGNIFICANTLY CUT BACK THEIR PURCHASES
DUE TO
THEIR GENERAL HIGH INVENTORY LEVELS
    * SLOWDOWN WAS CONSIDERABLY MORE SUBSTANTIAL THAN EXPECTED.
    * HIGHER SHIPPING COSTS FOR BULKY PRODUCT GROUPS WITH GOOD
GROWTH,
SUCH AS ROOF BOXES AND AWNINGS FOR RVS

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