HK-listed Xtep rises on Q3 retail sales growth beat

Xtep International Holdings

20/10/2021 05:56

** Shares of China's sportswear group Xtep International
Holdings Ltd  1368.HK  rise 4.7% to HK$10.80, the highest since
Oct. 4 and up for a second session
    ** Co says it recorded "mid-teens growth" in retail
sell-through growth, including offline and online channels, for
three months ended in September as compared to the same period a
year ago, with discount level at 20%-25% and retail inventory
turnover of around four months (https://bit.ly/3B1U6nw)
    ** CMB International Capital maintains "buy" rating on the
stock saying Q3 retail sales growth beat slightly thanks to
rising products popularity, but fine-tuned TP to HK$15.41 from
HK$18.73 to factor in industry de-rating 
    ** Bigger rival ANTA Sports  2020.HK  falls 1.9%, while Li
Ning Co  2331.HK  rises 1.1%
    ** The Hong Kong Hang Seng consumer goods and services index
 .HSCGSI  gains 0.1%, and the Hang Seng Composite Index  .HSCI 
rises 1.04%
    ** The Hang Seng China Enterprises Index  .HSCE  rises 1.6%,
and the benchmark index  .HSI  climbs 1.3%
    ** Xtep stock had soared 166.7% this year as of last close 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))