Stock Track | Topsports Plunges Over 5% as Weak Sales Weigh on Profit

Stock Track10-24

Shares of Topsports International Holdings Ltd. plummeted more than 5% on Wednesday morning, after the sportswear retailer reported disappointing financial results for the latest periods, citing a decline in sales.

In its interim results for the six months ended August 31, 2024, Topsports said its profit attributable to shareholders fell to 873.8 million yuan ($123 million), down from 1.34 billion yuan in the same period a year ago. Revenue for the half-year period declined to 13.05 billion yuan from 14.18 billion yuan in the prior year.

The company also noted that its total sales for retail and wholesale operations in the second quarter registered a low-teens decline year-over-year. The weaker sales performance appears to have weighed heavily on Topsports' profitability, leading to the sharp drop in its stock price.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1145209545?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-24 10:07","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1145209545","market":"us","top_or_hot":-1,"title":"Stock Track | Topsports Plunges Over 5% as Weak Sales Weigh on Profit","media":"Stock Track","content":"<p>Shares of Topsports International Holdings Ltd. plummeted more than 5% on Wednesday morning, after the sportswear retailer reported disappointing financial results for the latest periods, citing a decline in sales.</p>\n\n<p>In its interim results for the six months ended August 31, 2024, Topsports said its profit attributable to shareholders fell to 873.8 million yuan ($123 million), down from 1.34 billion yuan in the same period a year ago. Revenue for the half-year period declined to 13.05 billion yuan from 14.18 billion yuan in the prior year.</p>\n\n<p>The company also noted that its total sales for retail and wholesale operations in the second quarter registered a low-teens decline year-over-year. The weaker sales performance appears to have weighed heavily on Topsports' profitability, leading to the sharp drop in its stock price.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Topsports Plunges Over 5% as Weak Sales Weigh on Profit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Topsports Plunges Over 5% as Weak Sales Weigh on Profit\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-24 10:07 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Topsports International Holdings Ltd. plummeted more than 5% on Wednesday morning, after the sportswear retailer reported disappointing financial results for the latest periods, citing a ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"06110","symbol_name":"滔搏","start_time":0,"source_url":"","article_id":"1145209545","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1145209545","pubTimestamp":1729735662,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Topsports International Holdings Ltd. plummeted more than 5% on Wednesday morning, after the sportswear retailer reported disappointing financial results for the latest periods, citing a decline in sales.In its interim results for the six months ended August 31, 2024, Topsports said its profit attributable to shareholders fell to 873.8 million yuan , down from 1.34 billion yuan in the same period a year ago. Revenue for the half-year period declined to 13.05 billion yuan from 14.18 bil","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"06110":"滔搏"},"translate_title":"由于销售疲软影响利润，Topsports股价暴跌超过5%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06110":1},"content_text":"Shares of Topsports International Holdings Ltd. plummeted more than 5% on Wednesday morning, after the sportswear retailer reported disappointing financial results for the latest periods, citing a decline in sales.\nIn its interim results for the six months ended August 31, 2024, Topsports said its profit attributable to shareholders fell to 873.8 million yuan ($123 million), down from 1.34 billion yuan in the same period a year ago. Revenue for the half-year period declined to 13.05 billion yuan from 14.18 billion yuan in the prior year.\nThe company also noted that its total sales for retail and wholesale operations in the second quarter registered a low-teens decline year-over-year. The weaker sales performance appears to have weighed heavily on Topsports' profitability, leading to the sharp drop in its stock price.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1145209545"}