Yue Yuen Industrial (Holdings) Limited, the manufacturer of footwear for most major outdoor and athletic brands, reported that July 2023 net consolidated operating revenue, 3qual to the total sales less sales discount and sales return, of the company declined 20.4 percent to $617 million and the net consolidated accumulative operating revenue of the company for the seven months ended July 31, declined 13.0 percent to $4.76 billion.
The Manufacturing business tallied a 23.9 percent decrease in July and a 20.0 percent decrease for the seven-month year-to-date period, an acceleration of the decrease posted in the first half reported through June (read SGB Media‘s coverage here).
The Pou Sheng Chinese retail business posted a 6.3 percent decrease in July, cutting the YTD increase to 8.8 percent through July reported in RMB currency. The first half report through June saw retail revenues up 11.1 percent for the six-month period (read SGB Media’s coverage here).
Photo courtesy Bloomberg
