company said revenues at its motorcycles, parts & accessories
and general merchandise segment fell an annual 8.5% to $874.1
million in the fourth quarter to end-December from $955.6
million a year ago. Analysts surveyed by Refinitiv on average
expected revenues to decline 3.7% to $920.14 million in the
Harley's shares were last trading down 7.2% at $32.34 in
Harley's challenges in the United States, which accounts for
more than half of the company's sales, are well documented -
core customers are growing older and outreach efforts to attract
new and young riders have yet to show results.
In the December quarter, U.S. retail sales declined for the 12th
straight quarter, falling an annual 3.1%.
Harley expects revenues from the motorcycles segment to be about
$4.53 to $4.66 billion in 2020 compared with $4.57 billion last
Lower restructuring expenses helped the company report higher
profits in the latest quarter. Its net income rose to $13.5
million or $0.09 a share in the December quarter from $0.5
million or $0.00 per share a year earlier.
Adjusted profit for the quarter came in at 20 cents a share,
compared with 17 cents per share last year.
(Reporting by Rajesh Kumar Singh, editing by Chizu Nomiyama)
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