Li Ning Company, Ltd. reported that retail sell-through for the third quarter at Li-Ning POS, excluding Li-Ning Young, declined by mid-single-digits year-over-year.
In the second quarter, retail sell-through on that same basis increased in the low single digits.
By channel in the third quarter, the Offline channel, which includes retail and wholesale, registered a high-single-digit decline. Retail (direct operations) declined by mid-single digits. Wholesale (franchised distributors) declined by high single digits. The e-commerce channel registered high-single-digit growth.
As of September 30, Li Ning had 6,132 stores in China, excluding Li-Ning Young. This reflects a net increase of 33 POS since last quarter-end and 15 POS since year-start. Of the 15 POS increases since year-start, direct retail saw a net decrease of 46, while wholesale saw a net increase of 61.
At September 30, Li-Ning Young had 1,480 POS in China. This reflects a net increase of 45 POS since the previous quarter and 12 POS since the start of the year.
Image courtesy Li Ning
