Peak Sport Products, the Chinese sports brand, warned that its profit for the first half of the year should “decrease considerably” compared with the same period last year, amid sluggish demand and the continuing inventory cleanup in the Chinese sports market. Peak Sport was one of the Chinese sports companies that suffered the most spectacular declines in income last year. Its sales were down by 37.5 percent to 2,902.9 million yuan renminbi (€359.8m-$473.0m) and its net profit altogether collapsed, down by 60.1 percent to RMB310.6 million (€38.5m-$50.6m). For the first quarter of this year, Peak Sport reported that its same-store sales remained flat and that its number of stores decreased by 125 stores to 6,358, all of them owned and managed by independent distributors or retail outlet operators. Meanwhile, the company has invested heavily in marketing, for example by securing the endorsement of Tony Parker, the French basketball player at San Antonio Spurs. Peak Sport's full results for the first half are to be released in August.

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