Footwear manufacturer Stella International reported an 18.9 percent increase in consolidated Q1 revenues to $338.4 million from $284.6 million for the three months ended March 31. Shipping volume increased by nearly 22 percent year-over-year, led by the sports category, to 11.7 million pairs. However, the average selling price (ASP) of shipped products declined by 3.5 percent year-over-year to $27.80, negatively impacted by the higher proportion of sports and casual products that typically have lower ASPs. The group said it remains focused on achieving its three-year objectives that call for an operating margin of 10 percent and low teens annualized profit growth by the end of 2025.
Meanwhile, at Xtep International, the company has reported a high-single-digit increase in year-over-year sellthroughs in Q1. The retail discount level was approximately 25 to 30 percent, while channel inventory was 4 to 4.5 months.
