Shimano reports 5% increase in fishing tackle sales
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Shimano reported a 5.1% increase in fishing tackle sales during the first quarter of 2019.
The global giant reported fishing tackle sales in its core market of Japan and the rest of the world exceeded the level of the same comparable period last year as its Stella SW reel and other new products were well received by anglers.
It reported solid sales in North America as a firm economy compensated for the impact of some unseasonable weather. It added that sales were sluggish in some countries across Europe, where inventories ‘seemed ‘excessive’.
Sales in China, South Korea and Southeast Asia were robust thanks to the continued popularity of fishing in the region. In Australia its performance remained solid as it was unhindered by major cyclone disasters as in the previous year.
Net sales from the sector came in at 18,032m yen. The group’s bicycle components division saw its sales rise 2.4% to 69,603m yen. Overall the group reported a 2.9% increase in sales to 87,714m yen.