CNNFN writes article about Born to be mild? Harley-Davidson to cut jobs:
By Paul R. La Monica @lamonicabuzz
harley davidson logo
Wall Street is no longer high on the HOG.
The iconic motorcycle company Harley-Davidson, which trades under the
appropriate ticker symbol of HOG, reported lousy earnings and sales
Tuesday.
Harley-Davidson (HOG)said sales of new bikes to dealers were down
1.4% worldwide in the third quarter and 2.5% in the United States.
Profits fell too and were below forecasts.
As a result, Harley-Davidson said it was cutting its full-year shipment
outlook. And it also said it would be laying off an unspecified number
of workers. The stock plunged nearly 14% on the news.
The big problem? Competition.
“We expect a heightened competitive environment to continue for the
foreseeable future, and now is the time for us to dial things up with
significant additional investments in marketing and product
development,” said Harley-Davidson CEO Matt Levatich in a statement.
Harley-Davidson may be the Kleenex or Google of motorcycles for many
average consumers — the first and only name you think of when it comes
to the category.
CNNFN Article Source Here.