China consumer slowdown weighs on U.S. earnings again

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From Apple to Starbucks, U.S. consumer brands are reporting yet another quarter of China sales declines.

Tesla, as well as athleisure brands Adidas and Lululemon, are some of the rare companies still seeing a bright spot.

The quarterly sales decline reduced Apple's China revenue share to 15.8% of total net sales, down from 16.9% in the year-ago period.China's Hisense aims to become the No. 1 TV company in the U.S. within 2 years, top executive saysThe sales were"weighed down by intensified competition and a soft macro environment that impacted consumer spending," CEO Brian Niccol said on an earnings call last week, according to a FactSet transcript.

Ex-Japan Asia sales for the first three quarters of the year fell to 29% of LVMH's total revenue, down from the 32% share reported for the same period in 2023.Apple, Starbucks and Nike have all seen the China market decline as a share of total revenue when compared to 2019, before the pandemic.

 

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