its domestic China business in 2022, shutting down all mainland listings to focus on helping Chinese consumers find lodging abroad instead.
While many U.S.-based businesses are benefiting from China's rebound, companies are still waiting to see the same recovery in travel retail. In its greater China unit, Tapestry expects a mid-single-digit gain in revenue for the fiscal year, including an expected increase of about 50% in the next quarter. The company's sales momentum in China is helping offset weakness in the U.S., as North American consumers become more cautious.
A glut of inventory weighed on Coty's China sales in its latest quarter, but April's sales were still higher than both the year-ago period and two years prior.
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