Harley Sold 20% Fewer Bikes In The US Last Quarter
As I’ve written about before, I like to follow sales of Harley’s and RVs because I think they give insight into discretionary consumer spending (see the wonderful NY Times article “The Muted Roars of Hogs and R.V.s”, Sept 30, 2007).
Harley Davidson (HOG) reported their 4th quarter numbers before the open today and they were again notable weak. Sales of Harley’s in the US were down 20% from the comparable quarter last year.
This resulted in an 8% decrease in revenue and a 26% decrease in net income (HOG 4Q Earnings Release).
Harley’s shares are getting hit again today though, down 50% from their November 2005 peak, I’d guess the pain for Harley shareholders is near end (HOG 2 Year Chart).
Disclosure: Top Gun has no position in Harley (HOG) shares.