EXEC: October FW Factory Shipments Tell a Divergent Tale as Key Nike Factory Declines

Yue Yuen Industrial (Holdings) Limited, the manufacturer of footwear for most major outdoor and athletic brands, reported that the company’s October 2024 net consolidated operating revenue increased 14.7 percent to $740.2 million, a clear acceleration from the 9.7 percent increase posted in September. The volume for October pushed past the $713.3 million produced in September 2024.

Yue Yuen’s October 2024 increase easily comped against the 14.6 percent decline to $645.6 million in October 2023, helped by continued growth in its Manufacturing shipments this year and a second consecutive month of growth in the Pou Sheng China Retail unit.

The company’s net consolidated accumulative operating revenue for the 10 months ended October 31 (YTD) increased 2.9 percent year-over-year to $6.82 billion.

Yue Yuen Manufacturing
The company’s Manufacturing business posted a 21.3 percent increase in October, a moderation from a 26.7 percent increase in September. This is slightly less than the 22.0 percent increase Yue Yuen posted in July 2024 and cycles against a 17.3 percent decline posted in October 2023.

Manufacturing posted a 10.2 percent increase for the 10-month YTD period this year, easily comping against a 20.5 percent decrease for the 10-month YTD period last year.

Yue Yuen and its Footwear Manufacturing business trades and reports in U.S. dollars ($).

Pou Sheng China Retailing
In another Yue Yuen report, the Pou Sheng China retail business returned to growth in October. Sales increased 4.7 percent year-over-year for October after posting a 14.7 percent decline in September. The YTD decrease was 8.1 percent through October 2024, cycling against a 6.1 percent increase for the 10-month 2023 YTD period.

Pou Sheng trades and reports in the Chinese RMB, or Yuan, currency.

Feng Tay Enterprises
Feng Tay Enterprises, one of the longest-tenured manufacturers of Nike footwear, reported Manufacturing revenues fell nearly 10 percent to NT$7.06 billion in October, returning to a negative trend after moving into positive territory in September, which was the first growth month for the company since February 2024.

Feng Tay’s 10-month YTD trend through October 2024 was up 2.2 percent to NT$72.66 billion.

Feng Tay reports financials in the New Taiwan Dollar (NT$).

Image courtesy Feng Tay Enterprises