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LI NING 1Q Retail Sell-through Up by Low-single-digit YoY, SSS Down by Mid-single-digit
Recommend 10 Positive 11 Negative 16 |
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LI NING (02331.HK) announced that for the first quarter ended 31 March 2024, the retail sell-through of LI-NING POS (exclude LINING YOUNG) for the overall platform increased by low-single-digit on a year-on-year basis. In terms of channels, offline channel registered a low-single-digit decline, with retail increased by mid-single-digit and wholesale declined by a mid-single-digit; the e-commerce virtual stores business registered a low-twenties (20-30%) growth. For the first quarter ended 31 March 2024, in respect of LI-NING POS (excluding LI-NING YOUNG) which have been in operation since the beginning of the same quarter last year, the same-store-sales for the overall platform registered a mid-single-digit decline on a year-on-year basis. In terms of channels, retail channel registered a low-single-digit decline and wholesale channel registered a mid-teens (10-20%) decline; while the e-commerce virtual stores business registered a low-twenties (20-30%) growth on a year-on-year basis. As at 31 March 2024, the total number of LI-NING POS (exclude LI-NING YOUNG) in China amounted to 6,214, representing a net decrease of 26 POS since the beginning of this year. Among the net decrease of 26 POS, direct retail accounts for a net increase of 1 POS, and wholesale accounts for a net decrease of 27 POS. As at 31 March 2024, the total number of LI-NING YOUNG POS in China amounted to 1,405, representing a net decrease of 23 POS since the beginning of this year. AAStocks Financial News |
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