CHINA: Belle International posts first-half growth
- First half net income rose 10.7% to ENY2.2bn
- Revenue increased 15.4% to CNY16bn
- Gross margin declined to 56.6% from 57%
Chinese footwear and sportswear group Belle International reported a rise in first-half net income, despite the group seeing a decline in consumer confidence.
Bell International recorded a 17.2% increase in footwear sales to reach CNY10.2bn, while sportswear revenue grew 12.3% to CNY5.7bn.
Gross margin declined slightly to 56.6% against 57% in the same period of the prior year.
The company said that weakness in the Chinese macroeconomic environment "no doubt had a negative impact on consumer confidence" with retail sales growth slowing. The group emphasised that despite the uncertainty, it has also "observed a certain amount of resilience" in the footwear and apparel markets. It recorded a gradual bottoming out in January and February, but since then there has been a steady recovery, with same-store sales growth picking up in the second quarter from low points in the first quarter.
"This resilience marked a separation from the general trend in the macro economy, supporting our long-term view that the consumer retail market would primarily benefit from the continued rise in spending power and consumption demand of the Chinese consumers," the company said.
Two campaigns carried out over the past two years by two groups of activists have achieved very different results. Whereas Greenpeace has successfully corralled major brands and retailers into its Det...
PPR is confident of continued growth in 2013, after posting a rise in 2012 net profit as strong sales of its luxury brands offset weakness in its sports division....
The most read stories on just-style this week include Puma launching its first closed-loop apparel and accessories collection, the global federation representing garment workers pledging its commitmen...
Sporting goods giant Puma posted a net loss in the fourth quarter of 2012, hit by a number of one-off special items which cost the business nearly EUR100m (US$134m)....
Puma has launched its first closed-loop collection of footwear, apparel and accessories called InCycle, all of which are either entirely biodegradable or recyclable....
Puma has launched a new running shoe, and a two compression products as it extends its range of performance products. ...
PPR has completed the sale of its OneStopPlus US plus sized clothing business to private equity firms Charlesbank Capital Partners and Webster Capital. ...
- Cheap polyester contributes to cotton import shift
- TPP trade pact in milestone signing by 12 nations
- Under Armour defends questions over strategy
- Combating the new normal – 10 trends for 2016
- US apparel retailers' January 2016 sales roundup
- Bangladesh factory fire renews worker safety fears
- China factory activity continues to deteriorate
- Southeast Asia – a strategic sourcing review
- H&M and Primark price rivalry reaches equilibrium
- PVH to take control of Tommy Hilfiger China unit
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- E-Textiles: Electronic Textiles 2014-2024