HK Stock Market Move | TOPSPORTS (06110) up more than 4% again in the third quarter, the growth rate of revenue narrowed compared to the previous quarter, institutions are optimistic about its continued benefit from the bottom recovery of NIKE.

TOPSPORTS (06110) rose by more than 4% again. As of the time of writing, it was up 4.24% at HK$2.95, with a turnover of HK$95.116 million. On the news front, TOPSPORTS recently announced that in the third quarter of the 2024/25 fiscal year, the total sales of its retail and wholesale business experienced a mid-single-digit decline year-on-year, with a slight narrowing of the low double-digit decline compared to the previous quarter. As of November 30, 2024, the gross sales area of directly operated stores decreased by 2.1% compared to the end of the previous quarter and by 4.4% compared to the same period last year. Shenwan Hongyuan Group pointed out that as the largest retailer of NIKE in China, TOPSPORTS has strong advantages in both product resources and brand support, and will continue to benefit from NIKE's bottoming out. The company has deep cooperation with NIKE and Adidas, two major brands, outstanding retail operations, channel optimization and upgrade to improve quality and efficiency, and continuous expansion of new brands contributing to incremental growth.