A sales increase in consolidated revenues of 44.9 percent to $405.8 million in the fourth quarter of 2021 is expected to lead to an increase of 35.6 percent to around $1.5 billion for the full financial year, said Stella International, thanks to a continued recovery in orders for its shoe manufacturing operations across all product categories.
In terms of volume, shipments were up by 33.3 percent for the quarter and by 28.6 percent for the year, ending up with a total of 55.8 million pairs in 2021. Margins improved as average selling prices went up by more than 5 percent to $27.10 per pair during the year, hitting a level of $27.50 in the final quarter, due to changes in the customer and product mix.
The company, which is also a retailer, wants to build up further on its high-end and athleisure footwear offer, while expanding its manufacturing capacity in Southeast Asia. As previously reported, a new facility in Indonesia is due to come on stream in 2022.
