Harley stock slides on plan to ‘invigorate’ brand

Harley-Davidson has “sharpened objectives” to “build the next generation of riders,” the company announced today. Yet despite the heightened investment and new capabilities in the works, Harley’s stock [ticker: HOG] had dropped 3.57% as of 12:57 p.m. Eastern Time. The stock was trading at $34.14 per share.

“Brand and consumer-facing teams are being structured and aligned with an even deeper consumer focus to reach people with consistent and engaging brand experiences,” the company said in a release. “To reflect this, Amplify Brand has been added as a growth catalyst in the ‘More Roads to Harley-Davidson’ plan and will bolster the existing growth catalysts of new products, broader access and stronger dealers.”

Specifically, Harley-Davidson has honed its objectives to build committed — both existing and new — riders. In the U.S., the company plans to expand to 4 million HD riders through 2027, up from 3 million in 2017. Outside the U.S., Harley plans to grow international business to 50% of annual revenue.

“We’re on a quest to build the next generation of Harley-Davidson riders,” said President and Chief Executive Matt Levatich. “We are activating our refined plan with focus and an intensity to create new pathways to Harley-Davidson and expand access and appeal to more people around the world.”

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