Xtep Also Sees Coronavirus Hurting H1 Results
It follows Anta as the second major Chinese brand to announce its results would be harmed by the epidemic because of closed stores, business disruption and production delays. Xtep said it could not provide specifics about the impact at this point, but that it was proactively promoting its e-commerce platforms and cutting costs. The recovery will come “gradually” in the second half. Xtep said its operations, including stores, offices and factories, have partially resumed without giving specifics. It sees normal operations returning by the end of February.
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