Li Ning (HKG:2331) reported a low-single-digit year-over-year increase in retail sell-through for its core LI-NING brand in the second quarter, according to a Monday Hong Kong bourse filing.
Shares of the company were down about 2% in Tuesday afternoon trade.
The company said offline sales declined by a low single digit, with direct retail dropping by a mid-single-digit percentage while wholesale improved marginally.
E-commerce operations posted mid-single-digit growth during the quarter.
As of June 30, the LI-NING point-of-sale network, excluding LI-NING YOUNG, comprised 6,099 stores in China, marking a net increase of 11 outlets from the previous quarter but a decline of 18 since the start of the year.
The LI-NING YOUNG store count stood at 1,435, down 18 sequentially and 33 year-to-date.
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