Net income from continuing operations doubled to RMB 515,155,000 ($76.2 mm) in 2017 from RMB 255,511,000 excluding the divested Double Happiness business, on sales that increased 11% to RMB 8,873,912,000 ($1,312.9 mm) from RMB 8,015,293,000. Gross margin grew 80 basis points to 47.1%. Li Ning’s retail operation grew high-single digits with brick-and-mortar sales accounting for 30.7% of revenue driven by a mid-single digit same store sales gain and more full-priced selling. E-commerce sales also increased high-single digits to 18.8% of total sales. At year end, Li Ning had 1,541 directly operated stores and ... Log in to view full article.