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Article: A LIFELINE FOR BRUNSWICK; As boat demand sags, recreational goods maker tries to prop up sales with iPod-ready treadmills.(Markets)
- Article from:
- Crain's Chicago Business
- Article date:
- November 12, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JOHN PLETZ
Buffeted by slumping sales in its boat business, Brunswick Corp. has tossed a line to the iPod craze.
Shares of the Lake Forest-based company have tumbled 33% this year, dropping to a 41/2-year low of $20.00 on Oct. 19, as a slowing economy and housing market and record oil prices curb demand for luxury items such as Brunswick's Sea Ray yachts, some of which cost $1 million and more.
Brunswick CEO Dustan McCoy is looking for a boost from his fitness equipment business, rolling out a line of iPod-enabled elliptical cross trainers, treadmills and stationary bikes for health clubs starting this month. But analysts are skeptical ...