China boycotts are a warning to Western brands

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here.What’s happening: The retailers face boycotts because of stands they’ve taken in the past against the alleged use of forced labor to produce cotton in China’s western region of Xinjiang.Dozens of Chinese celebrities have terminated contracts or said they’ll cut ties with the brands, while H&M, the world’s second largest clothing retailer, has been pulled from major e-commerce sites.Investor insight: Nike shares tumbled more than 3% Thursday on Wall Street, while Adidas sank more than 6% in Frankfurt. In London, Burberry lost more than 4%. H&M’s stock

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