Modest rise for sportswear firm Li Ning in first quarter

Chinese sportswear firm Li Ning (2331) said the retail sell-through of Li-Ning points of sale, excluding Li-Ning Young, for the overall platform increased by a low single-digit in the first quarter on a year-on-year basis.

Its offline channels, including retail and wholesale, registered a low-single-digit increase. Retail, its direct operations, declined by a low single-digit while wholesale, involving franchised distributors, increased by a low single-digit, according to a filing on Monday.

Its e-commerce virtual stores business registered a low-teens growth in the quarter, Li Ning said.

The total number of Li-Ning POS in China net decreased by 29 to 6,088 as of the end of March, while that of Li-Ning Young POS also net dropped by 15 to 1,453.

STAFF REPORTER