Net income slipped 16% in the fiscal first half ended Aug. 31 to RMB 662.6 million ($98.3 mm) from RMB 789.1 million, as sales fell 11% to RMB 10,913.2 million ($1,619.2 mm) from RMB 12,298.6 million. Second quarter revenues declined in the low teens following Q1’s 5% drop. Topsports warned that Nike’s plan to cut off third-party e-commerce sales in the PRC will create a significant short-term headwind for the retailer. The new policy doesn’t take effect until Jan. 1, 2027, so it didn’t affect the current period.

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