not vested
LI NING 3Q SSS Decline by Mid-single-digit YoY; Retail Sell-through Up by Mid-single-digitLI NING (02331.HK) announced that for 3Q ended 30 September 2023, the retail sell-through of LI-NING POS (exclude LI-NING YOUNG) for the overall platform increased by mid-single-digit on a YoY basis.
In terms of channels, offline channel, including retail and wholesale, registered a high-single-digit growth, with retail (direct operation) channel increased by low-twenties and wholesale (franchised distributors) channel increased by low-single-digit.
The e-commerce virtual stores business, however, registered a low-single-digit decline.
For the quarter, the same-store sales (SSS) of LI-NING points of sale (POS), excluding LI-NING YOUNG, that have been in operation since the beginning of 3Q22 registered a mid-single-digit decline over the whole platform on a YoY basis.
In terms of channels, retail channel registered a mid-single-digit increase and wholesale channel registered a low-teens decline; while the e-commerce virtual stores business registered a low-single-digit decline on a YoY basis.
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As at 30 September 2023, the total number of LI-NING POS (excluding LI-NING YOUNG) in China amounted to 6,294, representing a net increase of 127 since the end of previous quarter and a net decrease of 1 POS since the beginning of this year.
Among the net decrease of 1 POS, direct retail accounts for a net increase of 57 POS, and wholesale accounts for a net decrease of 58 POS.
The total number of LI-NING YOUNG POS in China amounted to 1,370, representing a net increase of 89 POS since the end of previous quarter and a net increase of 62 POS since the beginning of this year.
Source: AAStocks Financial News
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