News Analysis
Companies doing business in China were given a nasty surprise when their earnings got hit as a result of Beijing’s nearly three years of extensive lockdowns followed by a sudden reopening in early December 2022.
The Epoch Times reported on Feb. 5 that with many places in China seeing 80 percent infection rates within 20 days, the decision had a massive effect on factory and business operations. Companies like Apple continue to exit China to relocate their supply chains.
Caught in the turmoil is luxury apparel maker Canada Goose. Its third-quarter earnings missed badly and its stock price fell 15 percent on Feb. 2….