Li Ning Company, Ltd. reported that retail sell-through for the second quarter at Li-Ning POS, excluding Li-Ning Young, decreased by low-single-digits year-over-year after turning positive in the first quarter.
Li Ning’s retail sell-throughs recovered in the first quarter, increasing mid-single digits year-over-year, after showing a decline in the low-single digits in the fourth quarter and a decline in the mid-single digits in the third quarter.
By channel in the second quarter, the offline channel, including retail and wholesale, registered a low-single-digit decline, with retail (direct operation) off low-single digits and wholesale (franchised distributors) down mid-single digits. E-commerce saw mid-single-digit growth.
As of June 30, Li Ning had 6,063 stores in China, representing a net decrease of 12 since the end of the previous quarter and a net decrease of 28 POS since the beginning of this year.
As of June 30, the total number of Li-Ning Young stores in China was 1,516, representing a net increase of 52 since the end of the previous quarter and a net decrease of two since the beginning of this year.
Image courtesy Li Ning
