Topsports International Holdings (HKG:6110) expects a 35% drop in profit attributable to equity holders for the six months ended Aug. 31 from 1.34 billion yuan last year, a Tuesday filing with the Hong Kong exchange said.
The sportswear products company attributed the anticipated decrease to consumer behavior resulting from macroeconomic conditions and a drop in revenue from offline stores.
The company also attributed the lower profit to an increase in offered discounts during the period resulting in lower gross profit margins.
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