HOG - Harley-Davidson Plans Major Overhaul After Big Q2 Loss
Harley-Davidson (NYSE: HOG) posted a big second-quarter loss Tuesday because the coronavirus pandemic shut motorcycle dealerships across the country, crushing sales. But given the downward spiral the bike maker has been on for the past five years, management realized a major shakeup of its business was in order if it wants to remain a "high-performance company."
In a statement accompanying Harley's second-quarter earnings results, Jochen Zeitz, Harley's chairman, president, and CEO, announced a series of changes the company will make that will undoubtedly change the Harley-Davidson we know. Here's the big takeaway from all this.
Image source: Harley-Davidson.