US, Asia and Australia lead Shimano tackle sales growth
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Robust sales in the US and Asia, coupled with a ‘booming’ market in Australia, helped global giant, Shimano, report a 7.3% increase in fishing tackle sales in the first nine months of 2018.
The Japanese manufacturer saw its sales reach 53,699 million yen and operating income increase 24.7% to 6,827m yen compared to the same period in 2017. Overall, the group reported a 3.2% increase in sales – 253,923m yen – when its bicycle components business was taken into account.
Shimano said that fishing sales in its home market were sluggish, mainly due to heavy rain and the typhoons that followed the summer. However, its performance still exceeded last year’s levels, due partly to contributions from the new lure-related products which were well received.
Despite the impact of the hurricane which hit the US east coast, the steady improvement in the economy across the region was reflected in rising tackle sales.
Shimano added its performance in Europe is recovering steadily, despite inventory levels being slightly higher in the UK, one of its major markets. Sales in Asia were strong, driven further by the growing popularity in sport fishing. In Australia, the market is booming and sales remain strong thanks to favourable weather.
It added that the introduction of the ICAST award-winning Curado DC baitcasting reel has also been well received.