Chinese sports brand issues profit warning - sportstextiles: Lea SportsTextiles

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Chinese sports brand issues profit warning

28/05/2013
Chinese sportswear brand 361 Degrees issued a profit warning on May 24, warning that a preliminary review of the company’s performance in the first quarter of 2013 demonstrated “a significant downturn year on year”.

Directors said they were duty bound to warn existing shareholders and potential investors to “exercise caution when dealing in the shares of the company”.

The company said it is taking various measures to overcome current difficult business conditions and said it remains confident of the longer-term prospects for the sportswear industry in China.


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