[ET Net News Agency, 17 February 2020] Pou Sheng (03813), the sportswear retail arm of
Yue Yuen (00551), reported January sales of Rmb3.13bn, up 25% (up 29% month on month), a
record-high thanks to strong underlying demand and earlier Chinese New Year holidays this
year.
Morgan Stanley said Pou Sheng's numbers are not representative of the entire Chinese
sportswear market, but the top-line strength could still point to the resilient underlying
demand for sportswear and provide confidence to the market that the structural growth
story for the sector has not faded despite near-term consumption disruption.
It is also a noteworthy read-through to major international sports brands as they are
major merchandise suppliers for Pou Sheng, the research house added. (KL)
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00551 YUE YUEN IND
Nominal 
11.440 -0.240 (-2.055%) Research Report
17/02/2020 17:33
{I-bank focus}Demand for sportswear stays strong in January
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