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Chinese firms Stella and Xtep provide operational updates
Footwear manufacturer Stella International reported an 18.9 percent increase in consolidated Q1 revenues to $338.4 million from $284.6 million for the three months ended March 31. Shipping volume increased by nearly 22 percent year-over-year, led by the sports category, to 11.7 million pairs. However, the average selling price (ASP) of ...
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K-Swiss appoints Andrew Richard as VP of Lifestyle
Source: K-Swiss Andrew Richard K-Swiss has appointed industry veteran Andrew Richard as Vice President of Lifestyle, a newly created role. Most recently, Richard served as VP / GM of North America at FootBalance System, where he helped the company build and expand the distribution of its 3D ...
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Xtep updates Q4, FY23 results in Greater China
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 ...
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Chinese firms offer Q1 business updates
Anta Sports Products Limited reported sales increases for all businesses for the period ended March 31. Revenues for Anta branded products rose by mid-single digits year-over-year; Fila brand sales increased by high-single digits year-over-year; and all other brands generated 75 to 80 percent year-over-year sales growth in the period, the ...
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Xtep International provides update on Q4, FY22 results
Xtep International is forecasting a high single-digit sales decline, including retail and online channels, for the fourth quarter ended Dec. 31, 2022, when the discount level was approximately 30 percent versus 20 to 25 percent in the year-ago period. Anticipated full-year results call for mid-teens year-over-over revenue growth and a ...
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Xtep partners with Covestro to manufacture low-carbon running shoes
Source: Xtep Xtep’s first Mass Balance low-carbon eco-friendly running shoes 360-Eco Xtep International Holdings established a strategic cooperation arrangement with Covestro, a German chemical group, and Silan Group, an integrated footwear platform, to produce low-carbon running shoes. The partnership announcement was made jointly with the presentation of ...
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Xtep sees Q3 growth
Xtep International Holdings has released an operational update on business in Mainland China for the third quarter, which ended on Sept. 30. The group’s unaudited operational data show growth of 20 to 25 percent in retail sell-through for its core brand, with on- and offline channels combined. Retail discount stood ...
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Xtep profit jumps 38 percent in H1
The operating income of Chinese sportswear brand Xtep International rose 34.8 percent to 922 million yuan renminbi (€130.9m) for the six months ended June 30, with attributable profit increasing 38.4 percent to RMB 590 million (€83.8m). The operating profit margin slipped slightly to 16.2 percent from 16.5 percent. Total ...
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Xtep’s controlling shareholder sells 80 million shares
The largest shareholder of Chinese sportswear brand Xtep International, Group Success Investments Limited, has sold 80 million shares, or about 3.04 percent of the free float, for HK$12.70 per share (€127.8m in total). Group Success is majority owned by the Ding family, which controls Xtep. Xtep did not disclose the ...
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Analysis: Sporting goods industry stocks down more than 14% in Q2 2022
According to SGI Europe’s quarterly study of 38 select sporting goods industry stocks, the decline was less than the 16.25 percent average decline in the first quarter of 2022, when 34 out of 36 stocks posted a stock price drop from the end of the fourth quarter. Five of the ...