The Giant Group can’t get out of the basement this year even as easier year-over-year comp opportunities paved the runway for strong gains.
The Taiwan-based bike manufacturer saw its 11-month year-to-date (YTD) sales trend fall further in November after mid-single-digit declines in October and September. But the month of November was a bigger miss, with sales falling 16.1 percent year-over-year decrease in sales for the month to NT$4.59 billion.
What makes the trend worse is the fact the company was comping against a big decline in November 2023 when sales fell 28.1 percent year-over-year.
The November 2024 decline comes after a 6.5 decrease in October and a 4.8 percent decline in September after posting a 16.6 increase in July and a 2.0 percent increase in August shipments.
The November 2024 decline was the biggest decline since March 2024 when sales fell 17.4 percent.
The decline for the month adds to Giant Group’s woes as the 11-month YTD period fell 7.7 percent year-over-year to NT$67.1 billion. The fourth quarter-to-date (QTD) period is now down 11.4 percent year-over-year after the third quarter finished up 4.7 percent versus the prior-year Q3 period.
The Giant Group reports financials in the New Taiwan Dollar (NT$).
Image courtesy Giant Group
