Li-Ning reported same-store-sales registered a low-teens increase on a year-on-year basis in the first quarter ended March 31.
In terms of channels, retail (direct operation) and wholesale (franchised distributors) registered a low-teens growth and mid-single-digit increase respectively, while the e-commerce virtual stores business registered a high-thirties growth.
For the quarter, the retail sell-through of Li-Ning POS for the overall platform increased by mid-teens on a year-on-year basis. In terms of channels, offline channel (including retail and wholesale) registered a low-teens growth, with retail increased by low-twenties and wholesale increased by high-single-digit; the e-commerce virtual stores business registered a high-thirties growth.
As of March 31, LI-Ning POS in China amounted to 6,730, a net decline of 66 since the beginning of this year.