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.