Bolstered by nearly 36 percent sales growth for its kids’ business, 361° realized 21 percent annual sales growth last year to 8,423.3 million yuan renminbi (€1.07bn) from RMB6,960.8 million. Annual operating income improved by 29 percent to RMB 1,383.5 million (€176.5m). The FY23 profit attributable to shareholders rose 29 percent to RMB 961.4 million (€122.6m) from RMB 747.1 million. The annual gross margin improved by 60 basis points to 41.1 percent from 40.5 percent.
By segment, group footwear sales increased 23 percent to RMB 3,509.9 million (€447.7m) last year, as apparel sales increased by 9.8 percent to RMB 2,687.5 million (€342.8m). 361° Kids revenues rose by nearly 36 percent to RMB 1,957.5 million (€249.7m).
Meanwhile, the Chinese group reported that sales from exclusive products sold online accounted for almost 28 percent of its annual revenues, or RMB 2,325.5 million (€296.7m). The company said omnichannel retail sales growth was above 30 percent during each quarter of 2023.
