ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Jul 13, 2018 14:20 JST
Source:
China Dongxiang (Group) Co., Ltd
China Dongxiang Registers Mid to Low Single Digit Growth in 1H2018 in Same-Store-Sales and Retail Performance
HONG KONG, Jul 13, 2018 - (Media OutReach) - The leading international sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or "the Company", together with its subsidiaries, "the Group", HKEx stock code: 3818) announces its operational data for the second quarter and the first half of 2018.
For the second quarter of 2018, the same-store-sales ("SSS") of Kappa stores (excluding Kappa Kids business and Japan business) for the overall off-line platform registered a mid to low single digit decrease year-on-year ("YoY"), while the retail performance remained stable as compared to same period of last year. For the first half of 2018, the aggregated SSS and retail performance both recorded a mid to low single digit growth YoY.
Mr. Zhang Zhiyong, Executive Director, Chief Executive Officer and President of China Dongxiang, said, "For the first half of 2018, the Company managed to achieve retail sales growth against the decline in forward orders by 20% to 25% YoY. For the quarter ended 30 June 2018, the Company's inventory balance (in terms of retail tag price) registered a low double-digit decrease compared to the end of 2017. In addition, during the same period, the Group was dedicated to engaging new regional retailers with strong sales potential to provide driving force for the opening of more high-retail-performance stores for the second half of the year, while the retail performance of the 45 stores which had undergone renovation during the period was prominently improved. Going forward, the Company will also be closing down stores with lower retail performance, ensuring the high SSS growth for the year. In view of the above, we believe that the Kappa brand has survived its most difficult period, and are confident of the Group's future development."
About China Dongxiang (Group) Co., Ltd. (Stock code: 3818)
China Dongxiang (Group) Co., Ltd. is a leading international sportswear brand enterprise in China which has been listed on the Main Board of the Hong Kong Stock Exchange since 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally renowned Kappa brand in China, Macau and Japan. On 1 May 2008, China Dongxiang completed the acquisition of PHENIX, a Japanese sportswear enterprise. PHENIX is the most popular ski brand in Japan with the largest market share, as well as a well-known brand in the international market.
Issued by Cornerstones Communications Ltd. on behalf of China Dongxiang (Group) Co., Ltd.. For further information, please contact:
China Dongxiang (Group) Co., Ltd.
Investor Relations Department
Christina Low / Erin Su
Tel: (86) 10-6783 6585
Email:
ir@dxsport.com.cn
Cornerstones Communications Ltd.
Yesan Ma / Sharis Siu
Tel: (852) 2903 9281/ 2903 9292
Email:
dxsport@cornerstonescom.com
Source: China Dongxiang (Group) Co., Ltd
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Release
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST
More Latest Release >>
Related Release
China Dongxiang Announces Interim Results for the First Half of 2018
August 15 2018 13:20 JST
China Dongxiang Announces Completion of Shares Acquisition by its Management; Increasing Shareholding Demonstrates Strong Confidence in Future Prospects
May 09 2018 19:30 JST
China Dongxiang Posts Mid to High Single Digit Same-Store-Sales Growth in 1Q2018 with High Single Digit Growth in Retail Performance
April 17 2018 08:50 JST
More Press release >>