BRIEF: 361 Degrees retail sales, e-commerce revenue up in second quarter
Sportswear brand 361 Degrees International Ltd. (1361.HK) said on Monday that revenue for its core branded products and Kid’s brands both grew 10% in the second quarter from a year earlier. Retail sales for its e-commerce platform grew by an even stronger 20%.
The company said it continues to implement its “empowering product innovation and upgrades through technology” strategy and continued to launch new products in response to market needs. The company’s distributors opened 39 additional 361° Super Premium Stores during the quarter, including outlets in Guangzhou, Changsha, Tianjin, Shanghai and Dalian. The company’s 361° Super Premium Store count reached 49 by the end of June.
Shares of 361 Degrees opened flat at HK$4.99 on Monday. The stock is up approximately 18% this year.
By Lau Chi Hang
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