Cycle Retailer Wiggle's Profits Get Boost From Olympics, Global Expansion

The interest in cycling sparked by the Olympics, the shift to online shopping and int'l expansion helped Internet-based cycle and triathlon retailer Wiggle "lift sales and profits last year," according to Andrea Felsted of the FINANCIAL TIMES. Wiggle Chair Andy Bond said that sales rose 20.8% to £140.8M in a 12-month period ending Feb. 3. Bond said the excitement around cycling in the Olympics and Tour de France "lifted the whole industry on to the next level of interest in the sport." He said this had not dissipated since the end of the Olympics and that there was the prospect of “further acceleration next year because the Tour de France is coming to the U.K.” (FT, 7/2).