Yue Yuen Industrial (Holdings) Limited, the manufacturer of footwear for most major outdoor and athletic brands, reported that July 2024 net consolidated operating revenue increased 10.2 percent year-over-year to $680.4 million. The strong increase in July this year easily comped against the deep 20.4 percent in July 2023, helped by an even stronger increase in Manufacturing shipments.
The net consolidated accumulative operating revenue of the company for the seven months ended July 31 (YTD) dipped 0.5 percent year-over-year to $4.69 billion.
Yue Yuen Manufacturing
The Manufacturing business tallied a 22.0 percent increase in July, nearly reversing the 23.9 percent decrease in July 2023, and a posting an acceleration from a 2.9 percent increase in June 2024. Manufacturing posted a 5.1 percent increase for the seven-month YTD period this year, comping against a 20.0 percent decrease for the YTD period last year, and more than doubling the 2.4 percent growth trend for the first half ended June 30.
Yue Yuen’s footwear manufacturing business trades and reports in U.S. dollars ($).
In other Yue Yuen reporting, the Pou Sheng China retail business posted a 10.6 percent decline in July , which cycled a 6.3 percent decrease in July 2023. The YTD decrease was 9.1 percent through July reported in RMB currency.
Pou Sheng trades and reports in RMB or “Yuan” currency.
Feng Tay Enterprises
Feng Tay Enterprises, one of the longest-tenured manufacturers of Nike footwear, reported manufacturing revenues were up 3.2 percent to NT$8.03 billion in July, an acceleration from the essentially flat performance for the month of June.
Feng Tay’s seven-month YTD trend through July was 6.2 percent growth to NT$50.91 billion. The 2024 first-half trend for Feng Tay was a 6.8 percent increase to NT$42.88 billion through June 30, revealing a slow down in the growth trend for the company through July.
Feng Tay reports financials in the New Taiwan Dollar (NT$).
