Retail sell-throughs for Li Ning, excluding the group’s Li-Ning Young business, rose by mid-single-digits year-over-year in Q1. The result was bolstered by high-single-digit growth in the offline channel and a mid-teens increase in the retail direct business. Q1 revenues to franchised distributors improved by a mid-single digit as the e-commerce business registered a low-teens decline in the period that ended March 31.
At Q1 end, Li Ning, excluding the Young business, had 6,206 points-of-sale in China, down by 89 from the start of 2022. Meanwhile, the total number of Li-Ning Young locations was at 1,253 on March 31, down 55 since Jan. 1.
