The Giant Group saw its year-over-year sales trend return firmly to negative territory in October after seeing a decline in September after posting two consecutive months of growing shipments in July and August.
The Taiwan-based bike manufacturer reported a 6.5 percent year-over-year decrease in sales for the month to NT$4.87 billion. The decline comes after a 16.6 percent increase in July, a 2.0 percent increase in August shipments’ and a 4.8 percent decline in September.
The news was expected to be more positive a bit unexpected as the company faces easy comparisons against an ugly fall shipping period last year.
The October sales results should have comped easily against a 34.4 percent decline in October last year when sales fell to NT$5.21 billion. The October 2023 decline was the biggest decline in recent memory.
The decline for the month adds to Giant Group’s woes as the 10-month year-to-date period fell 7.1 percent year-over-year to NT$62.9 billion.
The Giant Group reports financials in the New Taiwan Dollar (NT$).
Image courtesy Giant Group
