Harley-Davidson, the iconic motorcycle manufacturer, has reported lower quarterly profit and revenue. The company’s quarterly net income fell to $80 million, or 75 cents per share, compared to $108 million, or 88 cents per share, a year ago.
Turnaround Plan
Despite the decline, Harley-Davidson has raised its annual forecast, citing stronger retail demand. The company is focusing on its “Back to the Bricks” turnaround plan, which aims to capture younger riders by introducing smaller engine models and more affordable bikes, with an entry point to the Harley experience around $10,000.
The company’s overall revenue in the second quarter fell 6% to $1.23 billion from a year earlier. The gross margin also declined to 27.5% from 28.6% a year earlier, due to higher raw material costs and an unfavorable product mix.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
