Chinese sports brand Li Ning Company Limited 19 Day said that although the uncertain economic environment, but will continue its expansion plans, including retail stores by this year will go at the end of 6245 to 7000 and has no plans to lower product prices.
Although the Beijing Olympics brought China's sporting goods sales, but the number of products at speeds faster than sales, the distributors at the Olympic Games after the inventory is still required to digest, some brands are even reduced to promotion.
Ning Zhang Zhiyong, CEO at the press conference also admitted that a very volatile market economy, China has warmed up a lot of data, fundamentals such as employment has yet to see significant changes in China's sporting goods market growth this year or for 15 %, lower than originally expected 15-18%. However, said Zhang Zhiyong, Li Ning has no plan to follow the price promotion.
"We opened the whole year target will not change, the current very healthy sales, exceeding our expectations ... not suitable price products, we will maintain a unit price of the strategy to continue to grow." Said Zhang Zhiyong. He also disclosed that the first two months of single-store sales recorded a double-digit growth.
Li Ning is now China's biggest local market share of Sports brand, compared with the international brand, ranked at Nike (NKE.N: Quote) and Adidas (ADSG.DE: Quote) after. Based on the Chinese Li Ning has deployed in 2013 after beginning to enter the overseas markets, in 2018 determined to become one of the world's top five sports brands, and has more than 20% of revenue comes from overseas markets.
As of the end of last year, Li Ning brand shops have a total of 6245, a net increase during the year 1012. Li Ning plans to increase Li Ning shops by the end of 2009 to 7000, session of 2013 reached more than 10,000.
Sporting goods distributors and retailers in general will be about half a year in advance booking of goods. Li Ning, Chief Financial Officer Chung Yik-chi said that orders for the third quarter of this year, overall sales growth will be 12.7 percent, clothing and footwear prices increased by an average of 15.1% and 4.7%. compared to the first quarter and second quarter of 42% and 31.6%, third quarter sales growth slowed down significantly.
"After the first quarter orders, I said, retailers are overly optimistic. The third quarter, now is too pessimistic." Said Zhang Zhiyong. Trust him, the entire inventory of sporting goods industry is expected to return to normal status next year.
Li Ning announced Wednesday, as at the end of last year, its annual net profit to 721 million yuan, an increase of 52 percent, the market is expected to win. Nomura Securities, said Li Ning's performance reflects the company to benefit from the Olympics during the marketing opportunities.
Li Ning shares rose 0.8% in afternoon trading Thursday at 12.56 Hong Kong dollar; market? Seng Index fell 0.37 percent. - 22787
Although the Beijing Olympics brought China's sporting goods sales, but the number of products at speeds faster than sales, the distributors at the Olympic Games after the inventory is still required to digest, some brands are even reduced to promotion.
Ning Zhang Zhiyong, CEO at the press conference also admitted that a very volatile market economy, China has warmed up a lot of data, fundamentals such as employment has yet to see significant changes in China's sporting goods market growth this year or for 15 %, lower than originally expected 15-18%. However, said Zhang Zhiyong, Li Ning has no plan to follow the price promotion.
"We opened the whole year target will not change, the current very healthy sales, exceeding our expectations ... not suitable price products, we will maintain a unit price of the strategy to continue to grow." Said Zhang Zhiyong. He also disclosed that the first two months of single-store sales recorded a double-digit growth.
Li Ning is now China's biggest local market share of Sports brand, compared with the international brand, ranked at Nike (NKE.N: Quote) and Adidas (ADSG.DE: Quote) after. Based on the Chinese Li Ning has deployed in 2013 after beginning to enter the overseas markets, in 2018 determined to become one of the world's top five sports brands, and has more than 20% of revenue comes from overseas markets.
As of the end of last year, Li Ning brand shops have a total of 6245, a net increase during the year 1012. Li Ning plans to increase Li Ning shops by the end of 2009 to 7000, session of 2013 reached more than 10,000.
Sporting goods distributors and retailers in general will be about half a year in advance booking of goods. Li Ning, Chief Financial Officer Chung Yik-chi said that orders for the third quarter of this year, overall sales growth will be 12.7 percent, clothing and footwear prices increased by an average of 15.1% and 4.7%. compared to the first quarter and second quarter of 42% and 31.6%, third quarter sales growth slowed down significantly.
"After the first quarter orders, I said, retailers are overly optimistic. The third quarter, now is too pessimistic." Said Zhang Zhiyong. Trust him, the entire inventory of sporting goods industry is expected to return to normal status next year.
Li Ning announced Wednesday, as at the end of last year, its annual net profit to 721 million yuan, an increase of 52 percent, the market is expected to win. Nomura Securities, said Li Ning's performance reflects the company to benefit from the Olympics during the marketing opportunities.
Li Ning shares rose 0.8% in afternoon trading Thursday at 12.56 Hong Kong dollar; market? Seng Index fell 0.37 percent. - 22787
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