Deals
Li & Fung Drops as U.S. Slump May Further Hurt Profit
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Li & Fung Ltd., the biggest supplier of clothes and toys to Wal-Mart Stores Inc., tumbled in Hong Kong trading as it said the deterioration of the U.S. consumer market threatens earnings.
Customers’ growth “could go to negative territory” if the U.S. economy worsens, Managing Director William Fung said in an interview in Hong Kong today. “I’m hoping it won’t. Our customers don’t know.”