Annual sales for Xtep International in FY23, in both offline and online channels, rose more than 20 percent year-over-year, the company reported yesterday. Inventory turnover for the 12 months was 4 to 4.5 months.
Meanwhile, in Q4, which ended Dec. 31, 2023, the Chinese group generated year-over-year retail sales growth of more than 30 percent on average retail discounts of about 30 percent.
Chinese sporting goods group Xtep lifted its half-year profit on stronger demand for Saucony and Merrell, offsetting margin pressure at its core Xtep brand.
Saucony’s parent company´s revenue from continuing operations increased by 6.5 percent to RMB13,577.2 million (€1.782b).
The company’s core Xtep brand generated high-single-digit year-on-year growth for the FY and Q4.
Lululemon grew internationally in Q3 but US sales declined again. The company cut FY25 guidance and announced a CEO transition.
Foot Locker has posted a $46 million Q3 loss under Dick’s. Comps are down 4.7 percent amid a turnaround, weak sales and an inventory cleanup.
JD Sports Fashion posts solid Q3, with apparel and running strength offsetting weak sneaker demand in a challenging market.
Intelligence, analysis and advice for the global sporting goods industry.
