Pop Mart shares fall as third-quarter revenue drops sharply
The toy collectibles maker reported a significant decline in sales for the latest quarter.
At a glance
- Pop Mart reported third-quarter revenue down 45% to 50% year-on-year
- The company's shares extended declines following the results
Pop Mart, the company behind the Labuabi toy line, saw its shares extend losses following weak third-quarter results. The firm reported revenue fell between 45% and 50% compared with the same period a year earlier.
The sharp decline marks a challenging period for the collectibles maker, which has faced shifting market conditions.
Why it matters
Pop Mart is a major player in the collectibles market; the steep revenue drop signals weakness in the sector.
Original reporting
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