Harley’s Price Cuts Buoy Sales as New CEO Plots Turnaround

Harley-Davidson Inc. cut motorcycle prices to help clear out lingering inventory to start the year, boosting sales but sending profit tumbling ahead of a strategic overhaul under its new chief executive.

Harley reported adjusted earnings of 22 cents per share, the company said Tuesday in a statement, below the 35-cent average analyst estimate and down from $1.07 a year ago. But global retail sales climbed 8% to 33,500 motorcycles, powered by a 14% increase in the key North American market, where sales of its heavyweight Touring bikes were strong.