0248 GMT - Topsports International, Nike's largest retailer in China, is likely to benefit from Nike's stronger-than-expected branding momentum and its anticipated business recovery in China in 2025, Citi analysts say in a research note. Citi's quarterly global sports goods survey in December indicated "a sharp step up in momentum for Nike." In contrast, Chinese brands Anta and Li Ning both experienced an on-quarter decline in consumers' purchasing intent, the analysts note. Citi expects Nike's new global CEO to outline his strategy for reviving Nike's China business in 2025 during his inaugural investor communication following the company's 2Q results later this week. Citi has initiated a 30-day positive catalyst watch on Topsports while maintaining a neutral rating on the stock. Topsports shares are 0.4% lower at HK$2.73. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
December 15, 2024 21:48 ET (02:48 GMT)
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