HOG - Harley-Davidson +9% after topping estimates setting new global strategy

Harley-Davidson (HOG) reports global retail motorcycle sales fell 8% in Q3 due in part to a shift in timing of the launch of new model year motorcycles from August each year to early Q1 to better align with seasonality. Motorcycle sales were down 10% in the U.S. by units and were off 6% for the Asia Pacific segment. The EMEA segment saw a 7% increase in sales during the quarter. The company notes motorcycles sold at the full MSRP in the U.S. on average during the quarter.Gross margin came in at 29.8% of sales vs. 27.2% consensus. Harley didn't provide full-year guidance due to the pandemic, but did offer commentary on its strategy. Global strategy: "Harley-Davidson plans to concentrate on approximately 50 markets, primarily in North America, Europe and parts of Asia Pacific, that represent a high percentage of the company's expected volume and growth potential. The company's international business

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Harley-Davidson +9% after topping estimates, setting new global strategy