Li Ning (HKG:2331) said its retail sell-through for the quarter ended Sept. 30 fell by a mid-single-digit year-on-year, according to a Friday Hong Kong bourse filing.
Sales through offline channels, including retail and wholesale, dropped by high single-digit, with direct retail down mid-single-digit and wholesale down high-single-digit.
In contrast, e-commerce sales rose by a high single-digit, the filing said.
As of Sept. 30, Li Ning operated 6,132 points of sale (POS) in China, up 33 from the previous quarter. Its youth-focused Li-Ning YOUNG network grew to 1,480 POS, up 45 over the same period.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments