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J & P Cycles has added another ' Brick and Mortar ' retail location to its growing network - at Scottsdale , AZ . Traditionally a mail order operator , since its acquisition by Cycle Gear and Revzilla owner Comoto ( Prospect Hill Growth Partners ), J & P recently stepped away from its long-term sponsorship of the Ultimate Builder Custom Bike Show series at the now canceled IMS Outdoors event program . The Scottsdale store is managed by Ryan Dannenmueller . J & P now has six stores , including its founding store at Anamosa , Iowa , Sturgis , Daytona , Pigeon Forge , TN and Taylor , MI .

Owner Kinderhook Industries , LLC flipped its Mentor , Ohio based Race Winning Brands ( RWB ) subsidiary in November 2021 . The new owner is New York based MiddleGround Capital . Headed up by industry veterans Bob Bruegging as President and Bob Romanelli as acquisitions lead , RWB was originally carved out of Dover Corporation in 2017 . It had " completed eight strategic acquisitions " under Kinderhook ownership . RWB numbers Wiseco Performance Products , Manley Performance , ProX Racing Parts , Rekluse Motor Sports and JE Pistons among its best known powersports industry " units ."

May was recognized by The White House and President Biden as Motorcycle Safety Awareness Month . This came less than three months after the AMA , MIC and MSF met with U . S . Department of Transportation ( DOT ) Secretary Buttigieg requesting White House recognition of the month and addressing other motorcycle industry priorities .

VRM Spa , the owner of the storied Italian suspension brand Marzocchi , has confirmed that it is moving production to China in a partnership deal with Benelli owner Qiangjiang ' s QJMotors subsidiary , creating a new company called Zheijang Mazhouke Machinery Manufacturing . The new business will manufacture Marzocchi branded forks and shocks for sale in China and export worldwide . Production will be based at a new " state-of-the-art " facility in Zhejiang province . Florenzo Vanzetto , CEO of VRM , says that his company has grown Marzocchi turnover from € 8m a year when they saved the brand from liquidation in 2008 to € 32m now . Marzocchi was acquired by the € 8bn turnover Tenneco - the Monroe shocks owner - just as the global financial crisis started to bite . The U . S . conglomerate quite quicky decided to divest itself of what it judged likely to become an expensive and ' troubled ' asset .

Financial and Operational Highlights :

• First quarter sales were $ 1,957m , flat relative to last year .

• First quarter reported earnings per share was $ 1.14 , down 46 % versus last year ; adjusted earnings per share was $ 1.29 , down 44 % versus last year .

• Primary drivers in the quarter included increasing supply chain challenges and inflationary pressures , partially offset by strong pricing ; demand remains healthy .

• Retail sales for the quarter were down 22 % versus last year when retail sales rose 70 % in the same quarter , primarily driven by supply chain challenges .

• Repurchased around 1.5 million shares for approximately $ 172m .

Mike Speetzen , CEO , is quoted as saying - " Sales for this quarter remained relatively flat to last year , depressed by continued supply chain pressures . " While much of our focus centers on navigating the highly volatile and challenging supply chain environment , demand for our industry-leading products and services remains healthy , as we continued to see high levels of pre-sold orders and low cancellations , strong short- and long-term repurchase rates and record levels of PG & A attachments . " We are making strategic investments in both innovation and operations to enable our long-term growth plans and productivity needs and strengthen our position as the global leader in powersports ."

Segment Highlights

On-Road Sales were impacted by lower shipments driven by supply chain

Diluted Net income per share : $ 1.14 $ 2.11

challenges , despite strong demand , pricing and record low dealer inventory levels . PG & A sales increased 19 %. Gross profit margin performance was driven primarily by favorable product mix and lower promotions costs , offsetting higher input costs driven by supply chain constraints . North America unit retail sales for Indian Motorcycle were down approximately 30 %. North America unit retail sales for the comparable motorcycle industry were down almost 10 %.

Off-Road Sales were driven by growth in snowmobiles , commercial & government and defense , as well as robust pricing actions on new and presold orders . This growth was partially offset by lower ORV sales . Parts , Garments and Accessories ( PG & A ) sales increased 8 %. Gross profit margin performance was primarily driven by supply chain constraints and higher input costs ,

partially offset by increased pricing and lower promotional costs . Polaris North America ORV unit retail sales were down hightwenties percent . Estimated North America industry ORV unit retail sales were down high-teens percent . Polaris North America snowmobile unit retail sales for the 2021-2022 season ending March 31 , 2022 were down approximately 15 %, with the industry down mid-single digits percent .

Aftermarket The 5 % decrease in segment sales was driven by Transamerican Auto Parts sales , which decreased 9 % from $ 193m to $ 175m in the first quarter of 2022 . Powersports Aftermarket sales increased 16 %. Gross profit margin performance declined largely driven by supply chain challenges and inflationary pressures .

2022 Outlook The company continues to expect 2022 sales to be in the range of $ 9,215m to $ 9,455m , an increase of 12 % to 15 % over 2021 . The company continues to expect adjusted EPS to be in the range of $ 10.10 to $ 10.40 for the full year 2022 , an increase of 11 to 14 % from 2021 .