Sportswear manufacturer Li Ning Co. Ltd. (2331.HK) on Monday announced that retail sell-through for its points of sale, excluding its Li-Ning Young line, fell by a low-single-digit percentage amount year-over-year in the third quarter. By channel, offline channels registered a mid-single-digit year-on-year decrease during the quarter, while its e-commerce virtual stores business posted high-single-digit growth.
The total number of points of sale, excluding Li-Ning Young, reached 6,099 by the quarter’s end. Of that, retail operations saw a net decrease of 61 locations since the start of the year, and wholesale operations saw a net increase of 69, representing a net addition of eight points of sale this year.
However, the total number of Li-Ning Young points of sale in China stood at 1,491, representing a net decrease of 25 from the end of the previous quarter and a net decrease of 27 year to date.
Shares of Li Ning opened up 3.3 % at HK$13.26 on Tuesday. The stock is down 40 % from its 52-week high.
By Lau Chi Hang
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