Yue Yuen Industrial (Holdings) Limited, the manufacturer of footwear for most major outdoor and athletic brands, reported that its footwear manufacturing segment revenue declined just 2.4 percent in December, a clear moderation of recent declines and the best year-over-year monthly performance since November 2022, which posted a 6.1 percent increase.

November revenues were down 9.6 percent, an improving trend at the time.

Pou Sheng China retail sales increased 15.9 percent in RMB to RMB 1.58 billion compared to RMB 1.36 billion in December 2022.

Yue Yuen consolidated sales were up 1.6 percent to $640.1 million in December.

In the year-to-date period through December, sales were still down 12.0 percent to $7.89 billion, with a decline of 18.4 percent in the footwear manufacturing segment offsetting a 7.7 percent gain to RMB 20.06 billion in the Pou Sheng retail business.