Topsports Unlikely to See Business Turnaround in Short Term -- Market Talk

Dow Jones

May 23, 2025

0942 GMT - Topsports International is unlikely to see a business turnaround in the short term, Deutsche Bank Research analyst Jessie Xu says in a research note. The company, the Chinese distributor for Nike and Adidas, has prioritized inventory clearance in the past few quarters, but the inventory structure isn't yet ideal, as new arrivals and new brands aren't enough to offset discount pressure from old inventory, Xu says, citing management's remarks. The bank cuts its fiscal year 2026-2027 earnings estimates by 10%-19% to factor in weaker-than-expected short-term guidance and a later turnaround for its Nike business. Deutsche Bank downgrades the stock to hold from buy and cuts its target price to HK$3.30 from HK$3.50. Shares closed at HK$2.80. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

May 23, 2025 05:42 ET (09:42 GMT)

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The company, the Chinese distributor for Nike and Adidas, has prioritized inventory clearance in the past few quarters, but the inventory structure isn't yet ideal, as new arrivals and new brands aren't enough to offset discount pressure from old inventory, Xu says, citing management's remarks. The bank cuts its fiscal year 2026-2027 earnings estimates by 10%-19% to factor in weaker-than-expected short-term guidance and a later turnaround for its Nike business. Deutsche Bank downgrades the stock to hold from buy and cuts its target price to HK$3.30 from HK$3.50. Shares closed at HK$2.80. (tracy.qu@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 23, 2025 05:42 ET (09:42 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"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>Topsports Unlikely to See Business Turnaround in Short Term -- Market Talk</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\">\nTopsports Unlikely to See Business Turnaround in Short Term -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-05-23 17:42</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0942 GMT - Topsports International is unlikely to see a business turnaround in the short term, Deutsche Bank Research analyst Jessie Xu says in a research note. The company, the Chinese distributor for Nike and Adidas, has prioritized inventory clearance in the past few quarters, but the inventory structure isn't yet ideal, as new arrivals and new brands aren't enough to offset discount pressure from old inventory, Xu says, citing management's remarks. The bank cuts its fiscal year 2026-2027 earnings estimates by 10%-19% to factor in weaker-than-expected short-term guidance and a later turnaround for its Nike business. Deutsche Bank downgrades the stock to hold from buy and cuts its target price to HK$3.30 from HK$3.50. Shares closed at HK$2.80. (tracy.qu@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 23, 2025 05:42 ET (09:42 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4566","symbol_name":"资本集团","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2537182628","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2537182628","pubTimestamp":1747993320,"columns":[],"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":"0942 GMT - Topsports International is unlikely to see a business turnaround in the short term, Deutsche Bank Research analyst Jessie Xu says in a research note. The company, the Chinese distributor for Nike and Adidas, has prioritized inventory clearance in the past few quarters, but the inventory structure isn't yet ideal, as new arrivals and new brands aren't enough to offset discount pressure from old inventory, Xu says, citing management's remarks. The bank cuts its fiscal year 2026-2027 earnings estimates by 10%-19% to factor in weaker-than-expected short-term guidance and a later turnaround for its Nike business. Deutsche Bank downgrades the stock to hold from buy and cuts its target price to HK$3.30 from HK$3.50. Shares closed at HK$2.80. 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The company, the Chinese distributor for Nike and Adidas, has prioritized inventory clearance in the past few quarters, but the inventory structure isn't yet ideal, as new arrivals and new brands aren't enough to offset discount pressure from old inventory, Xu says, citing management's remarks. The bank cuts its fiscal year 2026-2027 earnings estimates by 10%-19% to factor in weaker-than-expected short-term guidance and a later turnaround for its Nike business. Deutsche Bank downgrades the stock to hold from buy and cuts its target price to HK$3.30 from HK$3.50. Shares closed at HK$2.80. (tracy.qu@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 23, 2025 05:42 ET (09:42 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}