China's Recovery Lifts U.S. Companies' Sales as Domestic Consumers Pull Back Spending

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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