All 361 Degrees articles

  • social3_01
    Article

    Sporting goods industry stocks rose by 10.9% in Q1 2021

    2021-04-01T13:37:00Z

    Confirming the resilience of our industry, the average stock market value of 38 selected public companies in the sporting goods sector advanced by 10.9 percent in the first three months of 2021. Comparatively, the main stock indices grew by only between 2.4 percent and 8.5 percent over the period.

  • Article

    361 Degrees’ sales drop by 9%

    2021-03-24T17:42:00Z

    361 Degrees International saw its revenues decline by 9.0 percent in 2020 to 5,126.9 million yuan renminbi (€664.0m-$742.9m). The Chinese sporting goods company’s attributable profit went down by 4.0 percent to RMB 415.1 million (€53.8m-$60.1m). The gross margin dropped by 2.4 percentage points to 37.9 percent, mainly due to ...

  • News briefs

    361 Degrees halves a high-interest portion of its debt

    2021-02-01T15:15:00Z

    The Chinese sportswear company successfully completed a tender offer for about half of its remaining 7.25 percent senior unsecured notes, reducing the total amount still due to be redeemed by June 3 from $266.1 million down to $127.8 million. The move has allowed 361° to considerably cut its total ...

  • News briefs

    Chinese sports brands see better Q4

    2021-01-20T17:18:00Z

    We have already reported on the preliminary results of Anta Sports Products for the fourth quarter of 2020, which showed a significant recovery in retail sales for its flagship Anta brand and stronger growth for Fila and the other brands in its portfolio, namely Descente , ...

  • News briefs

    361° wants to redeem some of its debt

    2021-01-06T16:49:00Z

    Standard Poor’s warned a few months ago that 361 Degrees may have trouble refinancing its high-yield notes when they mature, citing difficult refinancing conditions for privately owned Chinese companies. Nonetheless, the Chinese sports apparel and footwear brand has offered to buy back $135 million worth of ...

  • Article

    Generally positive results for the Chinese sports brands

    2020-10-21T15:31:00Z

    Chinese companies don’t publish detailed quarterly results, but all the four major public sporting goods companies except 361 Degrees had something positive to say in their preliminary operational updates for the third quarter of 2000, confirming the Chinese industry’s recovery from the coronavirus pandemic. Li Ning Company ...

  • News briefs

    361° sees its credit rating downgraded

    2020-09-02T19:33:00Z

    Standard Poor’s has downgraded the credit rating of 361 Degrees International , predicting that its position in the Chinese market will weaken due to an accelerated consolidation of the industry, leading its sales to decline by 5 to 10 percent in 2020 and by up to 5 ...

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    Article

    361 Degrees focuses on branding and e-commerce

    2020-08-20T13:24:00Z

    361 Degrees International saw its revenues decline by 17.0 percent in the first half of this year to 2,686 million yuan renminbi (€327.3m-$388.4m). The Chinese sporting goods company’s attributable profit went down by 17.8 percent to RMB 302.0 million (€36.8m-$43.6m), hit by a $34.9 million impairment charge for losses ...

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    Article

    Many Chinese sportswear brands issue sales warnings for Q2

    2020-07-24T11:02:00Z

    As a result of lockdown restrictions implemented in China and elsewhere during the Covid-19 pandemic, several Chinese sportswear brands have released profit warnings for the second quarter of 2020. Xtep warned that retail sell-through dropped by low-single digits in the quarter. It also has higher-than-usual inventories. The group ...