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by Mark Zalewski
November 16, 2016
In today’s CyclingTips Daily News Digest: Thomas Dekker publishes book recounting Rabobank doping culture; Fewer tests by French anti-doping agency due to budget shortfalls; Ralph Denk: Bora–Hansgrohe more than team Sagan; Greg Van Avermaet has successful surgery; Degenkolb on leaving Giant-Alpecin; LottoNL-Jumbo adds to 2017 roster; Canyon Bicycles – Shimano team goes UCI Continental for 2017; Giant posts lower global sales; Floating bicycle path proposal for Chicago River; Track World Cup Apeldoorn highlights; Greg Lemond documentary; Revolution Champions League.
Giant Bicycles is suffering from a global slump in bicycle sales, particularly in the U.S. and China, with its revenue from the first three quarters of 2016 down 6.5 percent.
The company said that while it has benefited from e-bike sales in Europe and a strong market in Japan, a slow down in sales in China, along with an underperforming U.S. market, dragged revenues down. Giant cited high inventory levels as a factor for the U.S. market.
Looking ahead Giant officials predict that inventory in the U.S. will return to normal with spring sales in 2017.
The company also said that it new line of adventure e-bikes would help its bottom line.
“Next year these products will be available in North America and Australia, and are expected to contribute to Giant’s growth in those markets,” a statement said.
Click through to read more at Bicycle Retailer.