Li-Ning posted a nearly 30 percent year-on-year increase in retail sell-through in the first quarter of 2022.
In terms of channels, offline, including retail and wholesale, registered a mid-twenties growth, with retail increasing by mid-thirties and wholesale expanding by the low-twenties. E-commerce registered a mid-thirties growth.
The company’s retail sell-through in the first quarter of 2020 decreased by nearly 20 percent affected by the pandemic. The figure rebounded to a nearly 90 percent growth in 2021.
Same-store sales for the overall Li-Ning platform in the first quarter of 2022 registered a low-twenties increase on a year-on-year basis. Channels on a same-store basis, retail (direct operation) channel registered a mid-twenties increase and wholesale (franchised distributors) channel registered a low-teens increase; while e-commerce registered a mid-thirties growth on a year-on-year basis.
As of March 31, the total number of Li-Ning stores in China is 5,872, representing a net decrease of 63 since the beginning of 2022. As of March 31, the total number of Li-Ning Young stores in China amounted to 1,135, representing a net decrease of 67 since the beginning of 2022.
Photo courtesy Li-Ning
