CHINA: Belle International warns of tough times ahead
- Net profit for 14 months to 28 February up 1% to RMB5.159bn
- Revenues up 10.1% to RMB43.067bn
- Warns of “weak consumer sentiment” for next two years
Apparel and footwear business Belle International Holdings is warning of a tough two years for the Chinese market, despite a double-digit revenue rise in the 14 months to February.
The company, which has shifted its year-end from 31 December, said footwear revenues were up 5%, while sportswear and apparel rose 19.1%.
The increases, it said, were caused mainly by the consolidation of newly acquired businesses and same store sales growth, but warned that broader macro-economic factors were continuing to impact business.
“With the [Chinese] economy continuing its structural rebalancing and slower growth becoming the new normal, consumer confidence has been low and consumer sentiment weak,” said Belle International, which distributes Nike and Adidas in China.
“The macro-economic outlook for the next two years is not optimistic. The consumer retail market is expected to be under continued pressure due to weak consumer sentiment.”
Sales had also been affected by an unusually warm winter and cold spring, the company said, highlighting rising costs, especially staff-related expenses.
Canadean's "NIKE, Inc. : Retailing - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company overview, key...
The most-read stories on just-style this week include a roundup of US apparel retailers' comparable store sales in April, Nike pledging to expand its US manufacturing operations if the TPP agreement ...
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Executives from sportswear giants Adidas and Nike, as well as mail order firm Otto Group and Everest Textile Company, are set to speak at this year's World Textile Summit....
Nike believes that footwear manufactured using its Flyknit fabric, which was initially launched in 2012, will be one of its growth drivers going forward. Initially launched in running footwear, Nike h...
Nike Philippines Inc is expected to continuously hold running events such as the “Nike We Run Manila” to sustain interest in the sport among consumers although it is predicted to focus on other sports...
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- China devaluation: what’s the big deal?
- Gap bullish on China growth opportunities
- US Q2 in brief: Dollar General, Burlington Stores
- Gap restructuring weighs on Q2 as profit falls 34%
- Luen Thai to continue investment in Vietnam
- Ralph Lauren debuts biometic smart shirt
- China market woes could hit consumer spending
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Ethiopia – the emerging textile and clothing industry
- Global market review of lingerie - forecasts to 2020
- Global market review of swimwear - forecasts to 2019