Shares of 361 DEGREES International Ltd, a leading sportswear brand in China, plummeted 5.22% on October 14th despite the company reporting positive retail sales growth for the third quarter of 2024.
According to a company statement, retail sales of 361° core branded products grew 10% year-over-year in Q3, while sales of 361° kids branded products and e-commerce products also recorded double-digit growth of 10% and over 20%, respectively.
However, investors appeared to be disappointed with the sales figures, which may have fallen short of market expectations. The stock sell-off could also be attributed to broader market concerns or other factors not directly related to the company's Q3 sales performance.
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