Pop Mart's third-quarter revenue reportedly fell 45% to 50% from a year earlier

Bloomberg reports that Pop Mart's preliminary update puts third-quarter 2026 revenue down 45% to 50% year over year. It links the drop to fading Labubu momentum and a difficult comparison with roughly 250% growth a year earlier. In Bloomberg reporting published by The Straits Times, Pop Mart calls 2026 a year of adjustment, while HSBC has cut its 2027 and 2028 revenue forecasts.