Headwinds in China have been the common theme throughout footwear retail earnings reports
Wall Street falls as growth stocks, glum China data weigh. European Stock markets struggle as fears over economy grow. Chinese economy takes a hit as Beijing, Shanghai reel under lockdown. Industrial production and retail sales are in sharp decline: Q1 sales of Yue Yuen - largest branded athletic and casual footwear OEM manufacturer in the world - hurt by declines at Pou Sheng retail division. Crocs, Under Armour and Adidas all reported headwinds to their businesses in China.
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