Yue Yuen Industrial (Holdings) Limited, the manufacturer of footwear for most major outdoor and athletic brands, reported that its footwear manufacturing segment revenue declined 9.6 percent in November, an apparent moderation of recent declines and the best year-over-year monthly performance since February 2023, which posted a 5.9 percent decline.
October revenues were down 17.3 percent, an improving trend at the time.
Pou Sheng China retail sales increased 19.2 percent in RMB to RMB 1.40 billion compared to RMB 1.18 billion in November 2022.
Yue Yuen consolidated sales were down 3.6 percent to $633.7 million in November.
In the year-to-date period, sales fell 13.1 percent to $7.25 billion, with a decline of 19.6 percent in the footwear manufacturing segment offsetting a 7.0 percent gain to RMB 1.40 billion in the Pou Sheng retail business.
Photo courtesy Yue Yuen
