Yue Yuen Industrial (Holdings) Limited, a subsidiary of Pou Chen Corporation that manufactures a large percentage of global athletic and outdoor footwear, reported that its net consolidated operating revenue for June was $676.8 million, an 18.9 percent decline year over year.
Yue Yuen’s manufacturing business was down 24.2 percent for the month, while the Pou Sheng retail business dipped 0.4 percent in RMB. The manufacturing business has declined every month this year, with elevated inventories globally. Sales in its manufacturing business were down 10.8 percent in May, 25.4 percent in April, 21.3 percent in March, 5.9 percent in February, and 25.0 percent in January.
The 0.4 percent slide in the Pou Sheng retail segment in RMB followed a gain of 6.6 percent gain in May, a 53.4 percent surge in April, a 29.8 percent advance in March, a 2.4 percent decline in February, and a 0.3 percent dip in January.
The company’s net consolidated accumulative operating revenue for the six months ended June 31 was $4.15 billion, a decline of 11.8 percent year over year. Manufacturing revenue was down 19.3 percent, and Pou Sheng’s retail business was up 11.1 percent in RMB.
