US: Performance Bike Ch11

[jfranci3]

https://www.bicycleretailer.com/industr ... -7zku-Wy00

40 stores closing. I assume the mainstream branded stuff will go back to the distributer along with the semi-house branded stuff (Fuji). There will be a lot of decent Oval branded products and wheels (Zipp / Hed / Stans rims w/ cheap hubs) orphaned on Nashbar and PB.



For those out of the loop: Performance Bike is a large chain of bike stores. To size the chain up: there's probably 6-8 in the Chicago area, which has 8 Trek dealers and 8 Specialized dealers, so 1/3 of the areas bike shops that would sell a $1000+ bike are Performance Bikes. Unlike most bike stores here, they actually have a lot of parts/accessories/clothes. They focus on the area between cheap department store bicycles and equipment and the higher end Trek/Specialized/Giant. While they sell Ultegra and DuraAce stuff, Sora and Claris would be their customer. They sell Pearl Izumi and mid-grade Shimano shoes, along with the odd high end item.
They've got a lot of house branded commodity quality stuff, but they also own the US Fuji distribution, they have Zipp/HED/Stans rims with cheaper builds ( https://www.performancebike.com/shop/wh ... mu-50-6160# ), and you can buy some house brand carbon stuff ( https://www.performancebike.com/shop/ti ... et-50-5643 ).
Some it is a fairly good deal -
I've been riding these CX/Gravel wheels for years https://www.performancebike.com/shop/pe ... et-50-3813 That's $399 + 30% off + $40 gift card for your next purchase - so $240 for a decent set of beater wheels for about the same cost of the rims.
HED Jet 5 - $550 https://www.performancebike.com/shop/ti ... ve-50-4876

[Bigger Gear]

Changing markets I guess. I remember when Performance was the biggest mail order company, along with Excel Sports and Colorado Cyclist. Back when you phoned in, or even mailed in an order. And as a Canadian in the 1990s I remember how excited I was to actually visit a Performance store for the first time. From back then to now it is hard to imagine the company falling apart.

Seems like the online business is super cut-throat, with companies like Wiggle/ChainReaction, Probikekit/THG, Competitve Cyclist/Backcountry and JensonUSA controlling a huge part of the share. And the brick and mortar is going the way of dedicated brand concept store (Trek, Specialized, Giant) or boutique high end.

[73Bronco]

I wonder if I need to hurry up and use my performance points.

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[AJS914]

Well, it's chapter 11 so they are reorganizing but closing around 40 stores.

It seems like the problem with Performance retail operations is that they don't know how to right size stores. Almost every Performance I've been inside is huge with tons of inventory and not enough customers. A typical bike store servicing the same area would typically be 1/4 the size.

The market for bikes better than Walmart bikes and cheaper than Specialized or Trek is probably quite large. Performance doesn't seem to know how to service the market segment.

They shouldn't have waited years and years to shut down stores that aren't at least breaking even.

[73Bronco]

Well, it's chapter 11 so they are reorganizing but closing around 40 stores.

It seems like the problem with Performance retail operations is that they don't know how to right size stores. Almost every Performance I've been inside is huge with tons of inventory and not enough customers. A typical bike store servicing the same area would typically be 1/4 the size.

The market for bikes better than Walmart bikes and cheaper than Specialized or Trek is probably quite large. Performance doesn't seem to know how to service the market segment.

They shouldn't have waited years and years to shut down stores that aren't at least breaking even.

Good point, I've often thought the same thing.

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[AJS914]

Team Performance Points:

https://www.performancebike.com/shop/te ... nce-update

[spdntrxi]

Team Performance Points:

https://www.performancebike.com/shop/te ... nce-update

if I counted right that's 40 stores.. must be the ones closing ?

[AJS914]

Maybe they are having super blow out sales at those stores?

[spdntrxi]

I've been to the dublin store.. it's pretty small. GNC recenly closed in the same strip.. It was always nice to stop buy when getting Chipotle.

[FIJIGabe]

Team Performance Points:

https://www.performancebike.com/shop/te ... nce-update

if I counted right that's 40 stores.. must be the ones closing ?

They're rumored to be shutting down 40 of their 104 stores, so this sounds about right. I've never found many deals at their stores, and only stop in if I'm desperate for something.

[claus]

So I could have saved the time calling them on the 14th to cancel the autorenewal (about 10 days before it would have happened).
"My" local store is on the list too, so I don't get those extra 10% off during the current sale :-(