Li Ning's Sales Growth May Remain Under Pressure in 2Q -- Market Talk

Dow Jones04-24

0508 GMT - Li Ning's sales growth may remain under pressure in 2Q, CCB International says, noting the lack of improvement in its sales momentum in April to date. The Chinese sportswear company's retail sales growth was slower than major peers in 1Q, suggesting that the brand lost market share amid a competitive operating environment, analysts Anita Chu and Anita Du say in a note. They cut their 2024 earnings forecast for Li Ning by 4% to factor in higher operating expenses. However, CCB expects sales growth to sequentially improve in 2H on higher demand driven by the Paris Olympics, new product launches, marketing efforts and an easier comparison base. CCB lowers its target price for the stock to HK$18.00 from HK$21.00 with an unchanged neutral rating. Shares were last at HK$19.66. (monica.gupta@wsj.com)

(END) Dow Jones Newswires

April 24, 2024 01:08 ET (05:08 GMT)

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The Chinese sportswear company's ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"02331","symbol_name":"李宁","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429801106","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429801106","pubTimestamp":1713935280,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0508 GMT - Li Ning's sales growth may remain under pressure in 2Q, CCB International says, noting the lack of improvement in its sales momentum in April to date. 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