Harley-Davidson's shares tumble on steeper fall in revenues

Harley-Davidson Inc (HOG.N) on Tuesday reported a larger-than-expected decline in its motor cycles revenue, hurt by a continuing slide in retail sales in the United States, sending its shares lower. Revenues at its motorcycles, parts & accessories and general merchandise segment fell 8.5% year-on-year to $874.1 million in the fourth quarter on the back of lower bike shipments. Analysts surveyed by Refinitiv on average expected revenues to decline 3.7% to $920.14 million in the quarter. Its shares were down 3.2% at $33.71 in midday trade. Harley’s challenges in the United States, which accounts for more than half of sales, are well-documented - core customers are growing older and efforts to attract new and young riders have yet to show results.