Thule Group AB Trading Update Call Transcript
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Thank you very much. Good morning, ladies and gentlemen. As was announced, it is a trading update, and what we're talking about here in this trading update is what has been happening in the bike retail sector as the third quarter has initiated.
As you all will remember that when we did our 2022 Q2 report in July, we announced the fact that we saw some trends in the bike retailers with too much inventory of some low entry-level and mid-level products in general, both specifically on the bikes themselves, but also in various forms of bike gear. And we said that, that could potentially impact the situation for the product sales.
This situation has clearly amplified as the quarter has started and we have seen markedly reduced sales versus the exceptionally strong record year in 2021, which is why we do this trading update now.
So logically, what is key for us is, of course, then to look at the situation, what it means short term and what we believe it could potentially impact
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