The Chinese group Li Ning reported a mid-single-digit decline in same-store sales for the period ended March 31. Retail channel comp sales were down by a low single-digit percentage, and wholesale channel sales fell by the mid-teens. Meanwhile, e-commerce virtual stores experienced year-over-year percentage growth in the low-20s.
The group ended the period with 6,214 points of sale in China and 1,405 points of sale for its kids’ business. Overall retail sales increased by a low single-digit in Q1, with the direct business up by a mid-single-digit and sales from franchised distributors down by a mid-single-digit.
