Pop Mart’s Quarterly Sales Drop on High Base, Sluggish Demand

Pop Mart International Group Ltd. reported a decline in third-quarter revenue compared to the same period last year. CNBC reported the drop at 45% to 50% year-on-year, while Bloomberg attributed the decline to fading momentum from its Labubu product line and a difficult year-over-year comparison. The company's shares extended declines following the announcement.

• Bloomberg — Pop Mart’s Quarterly Sales Drop on High Base, Sluggish Demand
• CNBC — Labubu-maker Pop Mart's shares extend declines as third-quarter sales plunge

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