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☆ Anta Sports has right strategy for China; growth is 'underappreciated'
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnta Sports' China strategy makes 'enormous amount of sense', but its growth is 'underappreciated'Bryan Gildenberg of Retail Cities says that Anta Sports' "complex portfolio" is "better suited" to the Chinese economy as compared to Nike, Starbucks or Apple, which have "fairly singular approaches" in product and demand offerings.

Persons: Bryan Gildenberg Organizations: Retail Cities, Nike, Apple Locations: China

CNN —Former Senegalese Prime Minister Amadou Ba has conceded defeat to leading opposition figure Bassirou Diomaye Faye in the western African country’s presidential elections. “I wish him lots of success and success for the well-being of the Senegalese people,” he added. Several opposition candidates in Sunday’s election conceded defeat to Faye earlier. Faye was also congratulated early Monday by another presidential candidate, Khalifa Sall. Official results will be announced by Saturday at the latest, according to an official from Senegal’s Autonomous National Electoral Commission.

Persons: Amadou Ba, Bassirou Diomaye Faye, Bassirou Diomaye Diakhar Faye, “, Macky Sall, Faye, Ba, Futurs Médias, Anta Babacar Ngom, ”, Faye “, Khalifa, . Ba, kickstart, Ousmane Sonko, Sonko, Sall, – Organizations: CNN —, Senegalese, Saturday, Senegal’s, Electoral Commission Locations: Ba, Senegal, .

☆ Amer Sports losses narrow as China sales fuel holiday-quarter revenue growth
▼ + stars: | 2024-03-05 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

In fiscal 2023, the company lost $208.8 million, but its losses narrowed from $230.9 million in fiscal 2022. Between 2020 and 2022, Amer grew sales in the region from 8.3% of total revenue to 14.8%. Sales in Greater China jumped by 45% and all three of the company's segments saw "solid growth." In 2023, sales in Europe, the Middle East and Africa represented about 33% of total revenue, down from 36% in 2022. North America made up about 39.5% of sales in 2023, down from 42.4% of sales in 2022.

Persons: Wilson, Amer, Salomon, Sellers, China's, Amer's, James Zheng, Zheng, it's Organizations: Amer Sports, New York Stock Exchange, Lousiville Slugger, CNBC, Wall, FountainVest Partners, Anamered Investments, Revenue Locations: Amer, New York City, U.S, China, Wilson, Louisville, Helsinki, Finnish, Greater China, Asia, Europe, East, Africa, North America, APAC

☆ Senegal was Africa’s poster child for democracy. Where did it all go wrong?
▼ + stars: | 2024-02-07 | by ( Stephanie Busari | Nimi Princewill | ) edition.cnn.com time to read: +8 min

CNN —In a region plagued by volatility, Senegal had long been praised for its political stability. Senegal remains an outlier as the sole mainland West African country never to have experienced a military coup. Nobody wants democracy in Senegal to degenerate,” Ojewale said. “Senegal is the most enduring democracy in West Africa. Sonko’s opposition PASTEF Party, however, criticized the postponement of the election, describing it as “a serious threat” to Senegal’s democracy.

Persons: Macky Sall, Sall, Oluwole, ” Ojewale, Ojewale, “, Amadou Barry, ”, Sall’s, Ousmane Sonko, Karim Wade, Amadou Ba, Idrissa Seck, Sonko, Wade, Abdoulaye Wade, Malick Gackou, Aminata, Babacar, PASTEF’s Yassine Organizations: CNN, Sall, Institute of Security Studies, Ministry of Communications, Telecommunications, Amnesty, ”, Democracy, Constitutional, PASTEF Party, Senegalese, Amnesty International, Economic, West African States, French Foreign Ministry, United Nations Locations: Senegal, West Africa, West, Dakar, France, “ Senegal, ” Dakar, Senegal’s, ” France

☆ Senegal parliament to debate extending president’s mandate as protests break out
▼ + stars: | 2024-02-05 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Reuters —Senegalese police on Sunday cracked down on protests against the postponement of the presidential election, as parliament prepared to debate a bill that would reschedule the vote for August and extend President Macky Sall’s mandate. “It (AU) strongly encourages all political and social forces to resolve any political dispute through civilized consultation, understanding and dialogue..,” the statement added. Senegal has never delayed a presidential vote and uncertainty about what happens next threatens to fuel further unrest like the deadly protests of recent years that have tarnished its reputation as one of West Africa’s most stable democracies. In one area, around 200 people retreated into side streets after police in riot gear fired tear gas and started detaining protesters. Further protests are planned outside parliament on Monday.

Persons: Macky Sall’s, Sall, ”, Moussa Faki Mahamat, Daouda Ndiaye, Anta Babacar Ngom, Aminata Toure, Macky’s, ” Toure Organizations: Reuters, Senegalese, Reuters . African, Economic, West African States, Sunday Locations: Senegal, West, Dakar

☆ China's luxury market is bouncing back with new areas of opportunity
▼ + stars: | 2024-01-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

The company's results showed that despite some resumption of overseas travel, more of China's consumers are buying luxury products at home. watch nowThe mainland China personal luxury market grew by about 12% last year to more than 400 billion yuan ($56.43 billion), according to consulting firm Bain & Company. "All of that data points to the importance of the Chinese luxury consumer and the China market," she told CNBC. Luxury brands have increasingly turned to online channels to ensure customer engagement, said Xing from Bain. As companies compete for a slice of the Chinese consumer market, one emerging segment is bedding and fine linen.

Persons: Louis Vuitton, they're, LVMH, Bernard Arnault, that's, Bain, Weiwei Xing, Cartier, Richemont, Burkhart Grund, Xing, Ding Shizhong, Ashley Dudarenok Organizations: Future Publishing, Getty, BEIJING, Bain & Company, CNBC, Consumers Locations: Shanghai, China, Hong Kong, Greater China, Macao, Bain

☆ China vs. India? Where one Asia investment manager is buying in a world of uncertainty
▼ + stars: | 2024-01-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

India stocks have run up so high that China looks relatively attractive, said Abrdn's Xin-Yao Ng, Singapore-based investment manager of Asian equities. Until the Chinese economy rebounds, his strategy is to pick stocks. Chinese stocks have dropped over the last several months, with the Shanghai Composite trading near lows not seen since the early months of the pandemic in 2020. All this follows a year in which mounting concerns about China's economy and lack of stimulus have kept investors on the sidelines. But for China's economy overall, a slew of concerns from geopolitics to an aging population remain.

Persons: Abrdn's Xin, Yao Ng, Abrdn's Ng, Ng, Li Qiang, he's, Abrdn, We've Organizations: Shanghai, Equity Fund, Eye, Nike Locations: India, China, Singapore, Davos, Mindray

The world's biggest shopping event happens in China each year - and it's called Singles Day. WHEN DID THE IDEA OF SINGLES DAY ORIGINATE? The idea for Singles Day had originated at China's Nanjing University back in 1993 and was originally called "Bachelor's Day." Cyber Monday immediately follows Black Friday, which falls on the day after the U.S. Thanksgiving Day holiday, the busiest shopping day of the year in the United States. "The presale period of Tmall and particularly on -- in general, the Singles Day, confirms a softer trend versus a year ago," said Estee Lauder CEO Fabrizio Freda last week, adding that the company was more optimistic about the next part of the Singles Day events in November.

Persons: it's, Bain, Jacob Cooke, Pinduoduo, Cooke, Estee Lauder, Nike, JD.com, Fabrizio Freda, Nicolas Hieronimus, Hieronimus, Granth, Aditya Soni, Diane Craft Organizations: China's Nanjing University, Adobe Analytics, U.S, Reuters, Technologies, Cyber, HK, PDD Holdings, Adobe, Bain, HOPE, Nike, Procter & Gamble, Apple, L'Oreal, Thomson Locations: China, United States, Beijing, Greater China, Bengaluru

☆ The founder of Lululemon is spending $100 million to try to beat the super rare disease that's destroying his muscles
▼ + stars: | 2023-10-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Lululemon founder Chip Wilson is battling FSHD, a rare form of muscular dystrophy. He's investing $100 million into finding a cure through his venture philanthropy fund, Solve FSHD. AdvertisementAdvertisementLululemon founder Chip Wilson has been battling a rare muscular disease for the past several decades, and he's funneling $100 million of his multibillion net worth into finding a cure. Wilson suffers from an even more uncommon form called FSHD2 that impacts just 5% of those with the disease, Bloomberg noted. Solve FSHD did not immediately respond to Insider's request for a comment.

Persons: Chip Wilson, FSHD, He's, Wilson Organizations: Morning, Bloomberg, FSHD Society, China's, Anta, Products, Amer Sports

TORONTO (AP) — Three generations of a Ukrainian family sit in a van in the documentary “In the Rearview.” They stare straightforward, staggered by all they’ve left behind. “I come from an aristocratic family,” one woman says in the film. The biggest battleground isn’t just a war zone but the home. In recent years, Canada has reckoned with its past treatment of Indigenous people, including heinous sterilization programs and forced-schooling systems. “Coming to New Zealand, being Māori, we don’t see enough of ourselves on screen,” Waititi said.

Persons: ”, “, Maciek Hamela’s van, Um Tae, Lee Byung, Ly’s, ” Ly, Oscar, Les, Alexis Manenti, Cameron Bailey, Waititi, ” Waititi, ” Hollywood’s, ” Andrew Haigh’s “, —, Cord, Jeffrey Wright, Hayao, Miyazaki, Alexander Payne’s “, Paul Giamatti, Da’Vine Joy Randolph, Dominic Sessa —, Agnieszka Holland’s “, Raoul Peck’s “, James Baldwin, –, Melvin, Peck, William Tecumseh Sherman, Garrison Frazier, Jonathan Glazer, Rudolf Höss, Christian Friedel, Hedwig, Sandra Hüller, Glazer, Nikolaj Arcel’s “, Mads Mikkelsen, Jonathan Demme’s, David Byrne, Jake Coyle Organizations: TORONTO, Toronto, America Samoa soccer team, “, Twitter Locations: Ukraine, Seoul, South Korea, Paris, Batiment, France, Canada, America, New Zealand, ” Toronto, Venice, New England, Belarus, Poland, Haitian, North Carolina, Georgia, Auschwitz, Denmark, Jutland Heath

☆ Samsonite’s baggage is heavy with geopolitics
▼ + stars: | 2023-09-12 | by ( Thomas Shum | ) www.reuters.com time to read: +4 min

Of the restless group, luggage maker Samsonite International (1910.HK) has the least financial reason to mull a move. The $5 billion U.S. and Luxembourg-based company was one of the first Western companies to list in Hong Kong. Sales from Asia - Samsonite’s most profitable region – accounted for almost 40% of the total in the first half of 2023. Reuters Graphics Reuters GraphicsFrom a liquidity point of view too, Samsonite has had a better experience in Hong Kong than other international arrivals. That’s better than other international consumer brands that boast similar levels of prestige.

Persons: Andrew Kelly, Tim Parker, Samsonite, Kyle Gendreau, CK Hutchison, It’s, Calvin Klein, Prada, ” Gendreau, Una Galani, Katrina Hamlin Organizations: Woodbury, REUTERS, Reuters, Global, Samsonite, HK, Reuters Graphics Reuters, Prada, Swire Pacific, CK, Bloomberg, Thomson Locations: Central Valley , New York, U.S, HONG KONG, Hong Kong, mull, Luxembourg, Asia, New York, Washington, Beijing, China

☆ What China's big earnings say about the consumer
▼ + stars: | 2023-08-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

But general merchandise revenue fell by 8.6% from a year ago to 81.72 billion yuan. Marketing revenue rose by 8.5% to 22.51 billion yuan. TencentLivestreaming e-commerce saw 150% year-on-year growth in gross merchandise value in the second quarter to an unspecified number. Overall, Tencent reported earnings for the quarter that missed expectations, but showed a third-straight quarter of revenue growth. The overall Taobao and Tmall Group saw revenue grow by 12% to 114.95 billion yuan.

Persons: Aly Song, Tencent, ByteDance, Tim Cook, Li Ning Organizations: Artificial Intelligence, Reuters, Electronics, Tmall, Shanghai Disney, Universal Studios Beijing, Comcast, Baidu, Adidas, Fila, Apple Apple Locations: Shanghai, China, Reuters BEIJING, Douyin, Greater China

☆ What China's resilient big spenders are buying and the stocks that benefit
▼ + stars: | 2023-07-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

That's approximately how large China's "premium" consumer population is – and it's a "huge" opportunity for higher-end sportswear by foreign companies, according to Bernstein. By U.S. standards, it doesn't take much to be considered premium in China. Adidas and Nike are like Benz, BMW, the highest end, he said, while the other brands are like Audi or Toyota. For Nike and Adidas, even their lowest price is two times that of local competitors, the Bernstein analysts said. However, focusing only on the premium growth segment can overlook the fact that many of China's consumers still live in smaller cities.

Persons: Bernstein, Aneesha Sherman, Li Ning, Irving, Miao Kun, –, Hoka, — CNBC's Michael Bloom Organizations: . Census, Anta Sports, Wednesday, basketball, Adidas, Nike, Benz, BMW, Audi, Toyota, Management, P Locations: China, That's, U.S, Hong Kong, Beijing, Thursday's, Germany, eyeing, Shanghai, Chengdu

[1/5] People put out burning barricades that were set on fire by supporters of Senegal opposition leader Ousmane Sonko, after Sonko was sentenced to prison in Dakar, Senegal June 1, 2023. Nine people were killed in clashes between riot police and Sonko supporters on Thursday after he was sentenced to two years for corrupting youth. The opposition says the verdict, which could prevent Sonko from running in elections next year, was politically motivated. Cheikh Anta Diop University in Dakar was the epicentre of Thursday's violence, with protesters setting buses alight and throwing rocks at riot police, who responded by firing tear gas. One student, Alioune Ndiaye, said he planned to travel hundreds of miles to his home in eastern Senegal to escape the violence.

Persons: Ousmane Sonko, Sonko, Abdou Karim Fofana, Cheikh, Alioune Ndiaye, Macky Sall, Sall, Mouhamad Diouf, Diouf, Adji Sarr, Cheikh Hann, Bate Felix, Cooper Inveen, Sofia Christensen, Anait, Edward McAllister, Angus MacSwan, Frances Kerry Organizations: REUTERS, Army, Security, Cheikh Anta Diop University, Authorities, Thomson Locations: Senegal, Dakar, DAKAR, Senegalese, West, Ouakam

☆ Big U.S. firms adopt cautious tone on China recovery
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +3 min

In April, China's imports contracted sharply, underscoring signs of weak domestic demand as a battered property market, worries over job stability and global economic uncertainty kept shoppers wary. "We grew mid-single digits in China, which had previously been a double-digit growth market for us pre-pandemic. "Consumer confidence remains weak and shaken because many Chinese faced job and salary cuts in 2022 and Chinese New Year bonuses in 2023 were low," said Shaun Rein, managing director at China Market Research Group. Still, a rapid recovery in domestic travel demand propped up sales at hotels. "China will be a growth driver for many multi-national companies but will not be at the high growth rates many analysts predict," China Market Research's Rein said.

DAKAR, May 8 (Reuters) - The presidential bid of a popular Senegalese opposition politician was thrown into doubt on Monday after a court of appeal handed him a heavier suspended sentence in a libel case, triggering a small protest in Dakar that riot police quelled with tear gas. But Monday's appeal hearing extended the suspended sentence to six months, said lawyer Boubacar Cissé, who represents the minister. "If this sentence is final, there is a good chance that his candidacy will be inadmissible," Diaw said. He has six days to file an appeal with the Supreme Court. Aside from the latest ruling, Sonko is also charged with raping a beauty salon employee in 2021 and making deaths threats against her.

HONG KONG, April 17 (Reuters Breakingviews) - Hong Kong could use a shot of something. Yet compared to the $313 billion Shanghai-listed behemoth Kweichow Moutai (600519.SS), debutante ZJLD is a drop in the near-$100 billion baijiu industry: it logs less than 1% market share. At the top of the marketed price range, ZJLD could be worth $5.4 billion, or almost 24 times this year's forecast earnings, IFR reports. Revenue at the company, which will be the first baijiu distiller to list in Hong Kong, was up a healthy 15% last year, while its adjusted net profit margin topped 20%. For Hong Kong, consumer stocks will put the focus back onto classic risks.

☆ Nike is going all in on luxury-obsessed Gen Z
▼ + stars: | 2023-01-15 | by ( Danni Santana | Matthew Kish | ) www.businessinsider.com time to read: +3 min

Nike CEO John Donahoe on CNBC this week said the company is focused on Gen Z in China. But some sneaker brands like Nike are deliberately targeting Gen Z and their supposedly frivolous spending habits to help bolster sales. The semiannual Piper Sandler survey of teenagers, which includes Gen Z, shows Nike and its Converse brand, and rival Adidas, atop the footwear category in the US. "I think that the buying power of our customer is much higher than it used to be," Schultz told reporters, referring to Gen Z. Meanwhile, Anta in mid-2021, announced a five-year strategy that includes focusing on Gen Z.

☆ Morgan Stanley turns bullish on China stocks, giving them serious upside potential
▼ + stars: | 2022-12-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley has turned bullish on China stocks for the first time in nearly two years as the country embarks on a "clear path set towards reopening." It had held its equal weight rating on Chinese stocks since Jan. 2021 and was last overweight on China in March 2020. Morgan Stanley also gave the major Chinese stock indexes large potential upsides. Morgan Stanley recommended investing in offshore Chinese stocks. Stocks set to benefit Morgan Stanley highlighted a list of stocks it said are set to benefit from the easing in China.

☆ China is easing its Covid measures. Here’s how market pros are playing it
▼ + stars: | 2022-11-15 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

China announced a shortening of its quarantine requirements last week, while simplifying travel rules and adjusting its monitoring regime. China has stood firm on its zero-Covid policy even as countries around the world adopt a "live with the virus" approach. Fund manager Brian Arcese believes the market reaction reflects the "underlying fundamentals that earnings will really start to improve." Meanwhile, Arcese, who is a portfolio manager at Foord Asset Management, said the firm has a China exposure of about 20%. It should benefit from the re-opening of China as tourism gradually recovers to pre-Covid levels," he added.

☆ Chinese brands outnumber foreign names among Singles Day best-sellers
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +3 min

[1/2] A delivery worker wearing a protective mask rides an electric scooter across a street ahead of Alibaba's Singles' Day shopping festival, following a coronavirus disease (COVID-19) outbreak in Shanghai, China, November 10, 2022. Alibaba said Singles Day sales were in line with last year, when gross merchandise value rose 8.5%, the lowest since the company started the shopping event in 2009. For the first time, Alibaba did not announce sales data this year. Alibaba rival JD.com said that in the 28 hours from 8 p.m. on Oct. 31, Chinese brands accounted for 80% of the sales of the top 20 brands. ($1 = 7.1066 Chinese yuan renminbi)Reporting by Sophie Yu, Brenda Goh; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Gap to sell Greater China units to e-commerce firm Baozun
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Nov 8 (Reuters) - U.S. apparel retailer Gap Inc (GPS.N) has agreed to sell its Greater China businesses to Baozun Inc (9991.HK), the e-commerce service provider said on Tuesday, as headwinds persists for global consumer brands in the world's second-largest economy. China's Baozun said its unit would acquire Gap Shanghai Commercial and Gap Taiwan Ltd, which operate the whole business of Gap Greater China, with a primary deal size of $40 million and no more than $50 million for adjustment. The Shanghai entity reported a net loss after tax of 256 million yuan ($35.34 million) for 2021, compared with 456.3 million yuan a year earlier, Baozun said in a filing. The Taiwan entity reported a post-tax net loss of T$199.8 million ($6.24 million) for the year ended January 29, 2022. Separately, Baozun said Gap has granted it an exclusive right to manufacture and sell its products in Greater China area.

☆ Planurile unui bărbat din Ungheni, ZĂDĂRNICITE de oamenii legii
▼ + stars: | 2021-07-08 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: 1 min

Planurile unui bărbat din Ungheni au fost dejucate de către polițiștii de frontieră. Totul s-a întâmplat în punctul de trecere Leușeni, în seara zilei de 7 iulie, potrivit border.gov.md. Șoferul a declarat că certificatul original al remorcii a fost ridicat de reprezentanții Agenției Naționale Transport Auto (ANTA). Prin urmare, certificatul a fost sigilat și transmis pentru efectuarea expertizei tehnice. Remorca a fost indisponibilizată până la finalul anchetei.

Persons: Totul, Individul, Șoferul, Remorca Organizations: Agenției Naționale Locations: Ungheni

☆ Poliția de Frontieră anunță că un moldovean a încercat să scoată din țară o remorcă, prezentând un certificat de înmatriculare falsificat: „Un alt conațional, din lipsă de bani pentru achitarea călăto
▼ + stars: | 2021-07-08 | by ( Milena Onisim | ) www.zdg.md time to read: +2 min

Poliția de Frontieră anunță că un moldovean a încercat să scoată din țară o remorcă, prezentând un certificat de înmatriculare falsificat. Conform analizei de risc, polițistul de frontieră a recurs la verificări suplimentare. „Audiat, șoferul a confirmat cele declarate de pasager, însă despre falsul în act – nu cunoștea. Documentat este și un bărbat din Ungheni, care a încercat să scoată din țară o remorcă pentru care a prezentat un alt certificat de înmatriculare, fiind identificate mai multe necoincidențe. Șoferul a declarat că certificatul original al remorcii a fost ridicat de reprezentanții Agenției Naționale Transport Auto (ANTA).

Persons: ., Șoferul, Remorca Organizations: Agenției Naționale Locations: Germania, . Moldova, Telenești, România, Ungheni

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