Sales growth lifts JNBY’s annual profit over 10%
Apparel brand JNBY Design Ltd. (3306.HK) on Wednesday reported its revenue rose 9% year-over-year to 6.05 billion yuan ($901 million) in its fiscal year through June 30, as its profit rose 11.7% to 997 million yuan. Its gross margin for the year stood at 66.6%, up by 1 percentage point from a year earlier.
JNBY’s global retail network totaled 2,118 stores by the end of the latest fiscal year, a slight increase of one store from the previous year, while same-store sales grew 2.4% year-over-year. Revenue from its flagship JNBY brand rose 7.6% from a year earlier to 3.24 billion yuan.
Going forward, the company said it will further optimize its portfolio of designer brands and product categories through in-house incubation and acquisitions. Meanwhile, the company will keep leveraging an internet-driven mindset and AI technology to further bolster its retail networks both domestically and abroad.
Shares of JNBY opened up 7.2% at HK$21 on Thursday. The stock is down 8% from its 52-week high.
By Lau Chi Hang
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