Sporting-Goods Companies Face Fierce Competition from Chinese Brands
Dow Jones
Sep 14
1117 GMT - Sporting-goods companies like Adidas, Puma and Nike are grappling with high competition in China where consumers prefer local brands, Citi analysts say, citing data from its Global Athletic Survey. There seems to be a growing relative preference for domestic brands in the region, the analysts write in a note. The survey also suggests a slightly improving economic backdrop in North America and Europe, with China broadly stable, the bank says. This points to consumers feeling relatively resilient after geopolitical events impacted sentiment last quarter, they add.
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