Pro's Closet is funded by VC firms and has been growing rapidly since 2016. The S&P 500 is down 17% from a year ago. Inflation is through the roof. Bike retailers have been struggling with supply chains since 2020 and are now seeing inventory piling up as we head into winter.
This doesn't require an economics degree to figure out. The bike industry as a whole is about to get a bit rocky and I don't think this has anything to do with Pro's Closet's business model.