As they are only obliged to publish their results for the first half and the full financial year, some more public Chinese sporting goods companies published an operational update for the first quarter, following up on Anta Sports Products’ previously reported excellent post-pandemic figures for the period.
Li Ning Company indicated that retail sales of its own products enjoyed a sales increase of more than 85 percent in the first quarter of this year as compared to the same period a year ago, when all offline stores were closed for part of the period. In terms of channels, the rate of growth was in the low eighties at wholesale, in the low nineties in regular retail stores and around 100 percent in e-commerce.
The data exclude the sales of Li Ning Young stores, whose number was reduced by six units to 1,015 in the first three months of this year. The number of Li Ning stores went down by 128 to a total of 5,784, with a reduction of 104 wholesale accounts and 24 directly operated stores.
Meanwhile, Xtep International reported growth in the “mid-fifties” for the sell-through rate of its core Xtep brand – online and offline - during the three months ended on March 31. It mentioned, however, a discounting level of betweeb 25 and 30 percent at retail. It also reported a retail inventory turnover rate of around 4.5 months. The company had no comments on other aspects of its business including the operational performance of Merrell and Saucony in China.