December checks indicate Harley-Davidson retail sales ‘very negative,’ says UBS

The firm believes Harley-Davidson’s (HOG) October-November U.S. retail sales may have been down nearly double-digits on top of last year’s Q4 declines, and preliminary December checks were also “very negative,” UBS tells investors in a research note. The firm says Q1 is likely off to a tough start, as California, the largest U.S. state for motorcycle retail sales, is likely to impact Q1 retail.