G Sachs: LI NING 1Q Sales Reflect Fundamental Improvement; Maintains Positive View
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G Sachs reported that LI NINGexperienced mid-single-digit YoY growth in adult retail sales for 1Q, slightly below market expectations. Including a 20% growth in childrenswear, total retail sales rose by high-single-digit YoY. The company met its internal performance expectations and maintained its full-year guidance of high-single-digit sales growth and net profit margin. G Sachs remains positive about LI NING's brand fundamentals and has a Buy rating with a target price of HKD26.7, anticipating favorable consumption trends in the second half of the year.
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