Could it be the light at the end of a very long tunnel? For the first time in a long while, Precor reported that its retail consumer home fitness products gained in sales at a better pace than its commercial division.
The Woodinville, Wash.-based fitness equipment manufacturer, owned by Finland-based Amer Sports, reported a 5 percent gain in first-quarter 2013 sales to EUR 62.5 million ($81.3 million). Within that, commercial fitness sales from clubs and institutions were up 5 percent, but more impressively, retail sales jumped 10 percent.
That goes against the trend of late, where retailers tell SNEWS commercial fitness sales have helped them weather a slump in the residential market, but at some point, trends begin to turn the other way. Time will tell whether this signifies a start, and corroborating evidence might come from fellow fitness manufacturers Life Fitness (Brunswick) and Nautilus’ upcoming first-quarter results.
Despite the positive sales figures, Precor’s profitability slipped, officials said, but that was due to reporting changes, and will not impact full-year results, they said.
Including Amer’s Winter/Outdoor and Ball Sports categories, total company first-quarter 2013 revenue rose 4 percent to EUR 493 million ($641.6 million) for the Finland-based company. Quarterly profit slipped to EUR 14.8 million ($19.3 million) versus EUR 18.8 million ($24.5 million) a year ago.