Annual footwear shipments, meanwhile, expanded by 8.2 percent to 53.0 million pairs, but the Average Selling Price (ASP) of the units declined by 4.4 percent to US$28.40.
For the final quarter of 2024, group revenues declined slightly at -0.7 percent to $377.7 million versus $380.3 million in the year-ago period. Shipment volume rose by 3.0 percent to 13.6 million pairs, but the ASP dipped by 3.1 percent to $27.90. Stella blamed the lower ASPs for the period and FY on a higher proportion of sports product orders and raw material price deflation.
The company remains on track to reach its three-year financial objectives of a 10 percent operating margin, and “low teens” compound annualized growth rate on Ebit before the end of 2025.
“We expect the looming changes to global trade tariffs will not have a material impact on our order book,” Chairman Lawrence Chen said in a statement. “This resilience is largely due to our diversified production base and the proactive measures taken earlier by most footwear brands to mitigate the impact of previous tariff hikes.”
