RideNow believes they are the largest powersports retail group in the United States… and with nearly 50 multiline dealerships and 12-15 Harley stores (hard to keep track of the consolidated number) in the RideNow family, who are we to argue? It is also hard to argue with the results: Q1 Powersports Revenue increased 6.4%, reaching $260.4 million, which represents an increase of $15.7 million in a down market.
“I am invigorated by our team’s unrelenting focus on execution, as evidenced by our first quarter results,” commented Chairman, Chief Executive Officer and President Michael Quartieri on the quarterly results. “Our tactical plan combines near-term initiatives to improve financial performance with structural changes to elevate the company’s strategic direction.”
On a same store sales basis, Powersports Revenue was up 13.1%, driven by a 16.3% increase in unit sales… not bad in a down market! See more details in the June issue.
