Reported 8 months ago
With the Paris Olympics approaching in July 2024, stocks related to the Olympics concept have become a hot topic in the market. Giant Manufacturing (9921) is slowly resolving inventory issues, seeing improved prospects in operations by tapping into the fitness equipment market. Meanwhile, leading shoemaker Pou Chen (9904) is benefiting from the resurgence in footwear business momentum and is optimistic about the industry's recovery with the Olympics effect. The stock rally for Olympic-related sectors has begun, with textile and clothing, shoemaking, and sports equipment stocks taking the lead. Giant Cycling's shareholder meeting indicated that the most severe inventories in the U.S. market have started ordering, primarily focusing on mid-range products. Additionally, Pou Chen expects a promising second-quarter revenue growth, with its May revenue hitting a new high since January 2023. Both companies are looking forward to a positive business development trend, spurred by the upcoming Olympics, as well as events like the Copa America and Euro Cup, indicating potential gradual recovery in the industry.
Source: YAHOO