China Sportswear Sector – 5-1 sales beat but competition intensified
While fundamentals (sales, discounts and inventory) are trending good into 2H23E and setting up for a decent FY24E, we should still keep our eyes...
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China Sportswear Sector – We expect prudent guidance but decent margins
While we expect a more conservative FY23E guidance by the brands, we do see decent upside surprises from GP margin improvements, helped by better...
570 Views
China COVID Policy: Near-Term Pains for Consumer Discretionary
Near-term negative impact of China's U-turn in COVID policy on consumer discretionary has been underestimated by the market. It is prudent to take...
590 Views
China Sportswear Sector – Sequential improvements during double 11
Based on our channel check and CMBI est., the online GMV growth during 2022’s double 11 was at ~14% YoY, inline with CMBI est. and beat market...
369 Views
The Week That Was in ASEAN@Smartkarma - Malaysian Politics, Indonesian Consumers, and Central Retail
This past week's offering of Insights across ASEAN@Smartkarma is filled with another eclectic mix of differentiated, substantive and actionable...
464 Views