Mainland sportswear maker Xtep International (1368) said net profit fell by 47 percent to 248 million yuan (HK$279.91 million) in the first half of this year. Revenue grew by 10 percent to 3.68 billion yuan. Revenue from footwear sales grew by 18 percent year-on-year to 2.25 billion yuan. The gross profit margin dropped by 4.1 percentage points to 40.5 percent, mainly due to the change in product mix, margin contributions from new brands and e-commerce channels. The company operated 6,124 Xtep branded stores in the mainland and overseas.

Source: The Standard August 28, 2020 07:18 UTC