Sportswear firms seen outpacing casinos in China

Hong Kong

SPORTSWEAR companies could outpace casinos in Asia in terms of floorspace profitability growth in 2015, as China's middle class takes advantage of cheaper domestic brands and an anti-corruption campaign hits gaming, UBS said on Thursday.

Retailers are skittish about expanding in Asia as China's 2014 economic growth is expected to hit a 24-year low - putting a dampener on prospects for consumer investors in the region, UBS said in a report.