Giant sales down 20% and profits slashed by 38% as bike industry challenges continue

  • 📰 roadcc
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 71%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Giant sales down 20% and profits slashed by 38%

Giant has sent the latest signal of the ongoing challenges facing the bike industry as its sales fell by 20 per cent in the first quarter of 2024 as post-tax profits slumped by 38 per cent.

Giant opted to put a positive spin on the situation, highlighting that bicycle sales in China"remain strong" due to an"increasing trend in sports and recreation which supported the sales of mid to high-end bicycles". The"huge bicycle sales growth" in China appears to have continued into 2024, but demand in Europe and North America, notably for entry-level and mid-range products, remains weak.Giant is suing Stages for £11 million worth of unpaid invoices, the bike brand having manufactured many of Stages' products, with four former top executives from the US-based brand also having joined Giant.We’ve noticed you’re using an ad blocker. If you like road.

Asylum-seeking elite cyclist told to move to Bibby Stockholm barge — as Home Office says he cannot take his bike onboard

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 21. in BE

Belgique Dernières Nouvelles, Belgique Actualités