Li Ning Releases Q3 2026 Operational Update: Low-Single-Digit Decline in Overall Sell-Through, E-Commerce Gains

Bulletin Express10-26

Li Ning Company Limited (Li Ning) reported a modest softening in retail momentum for the three months ended 30 September 2026. Retail sell-through from LI-NING points of sale (POS), excluding the LI-NING YOUNG format, slipped by a low-single-digit percentage year on year.

Channel performance diverged. Offline sales—encompassing both self-operated retail and franchised wholesale stores—registered a mid-single-digit contraction. Within this segment, direct retail remained broadly flat, while wholesale turnover declined by a mid-single-digit rate. Conversely, e-commerce virtual stores delivered high-single-digit growth, underscoring continued consumer migration to online channels.

Store network adjustments were incremental. As at 30 September 2026, LI-NING branded POS in mainland China totaled 6,099, a net addition of 36 locations quarter on quarter and 8 since the start of the year. The footprint mix shifted toward wholesale distribution—69 new franchised outlets offset a reduction of 61 self-operated stores.

LI-NING YOUNG, the children’s line, counted 1,491 POS at quarter-end, reflecting a net decrease of 25 stores from the prior quarter and 27 since year-end 2025.

All figures are unaudited and may be subject to revision. The company emphasized that these operational indicators do not represent its full financial results, and shareholders are advised to exercise caution when dealing in Li Ning’s shares.

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The footprint mix shifted toward wholesale distribution—69 new franchised outlets offset a reduction of 61 self-operated stores.</p>\n<p>LI-NING YOUNG, the children’s line, counted 1,491 POS at quarter-end, reflecting a net decrease of 25 stores from the prior quarter and 27 since year-end 2025.</p>\n<p>All figures are unaudited and may be subject to revision. The company emphasized that these operational indicators do not represent its full financial results, and shareholders are advised to exercise caution when dealing in Li Ning’s shares.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02331","symbol_name":"李宁","start_time":0,"source_url":"","article_id":"1111940523","we_media_id":"1053168898","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1111940523","pubTimestamp":1793005495,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Bulletin Express","introduction":"Full Coverage of HK & US Stock Announcements","home_visible":1,"id":"1053168898","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"summary":"Li Ning Company Limited (Li Ning) reported a modest softening in retail momentum for the three months ended 30 September 2026. 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