Chinese sportswear enterprise China Dongxiang (3818) reported the first-quarter revenue Kappa stores, excluding Kappa kids' apparel business and Japan business, for the overall platform recorded a 20-30 percent decrease on a year-on-year basis, of which the offline business recorded a 30-40 percent decrease and the e-commerce business recorded a 10-20 percent drop. The retail performance of the overall platform for the financial year 2019/20 recorded a low-single-digit growth, of which offline business recorded mid-to-low single-digit decrease, and e-commerce business recorded 20-30 percent growth. The same-store sales for the overall platform registered a mid-to-low single-digit decrease in the last quarter. Among them, the offline business recorded a low single-digit decrease excluding the temporary store closure period due to the Covid-19, measurement of same-store growth remains the same as previous practice, and e-commerce business recorded a 10-20 percent fall. The SSS for the overall platform for the year recorded a 20-30 percent rise in e-commerce business.

Source: The Standard April 17, 2020 11:03 UTC