Xtep shares surge despite slowing sales

Chinese sportswear company Xtep International (1368) leapt over 4 percent at one point on Thursday despite reporting slower sales growth in the first quarter. 

The Fujian-based firm said its the retail sales of core Xtep brand increased by “mid single digit” from one year ago for the three months ending in March, compared with “high single digit” growth for the fourth quarter in 2024.

For the past three months, the discount level remained at 25 percent to 30 percent, and the channel inventory turnover stayed at around four months.

Shares of Xtep once jumped 4.03 percent to HK$4.90 during early trade.

STAFF REPORTER