361 Degrees Posts Sales, Earnings Gains in H1
Comprehensive net income surged 34% to RMB368.7 million ($53.7 million) from RMB274.7 million helped by a RMB52.3 million beneficial swing in foreign exchange as sales increased 9% to RMB2,798.1 million ($407.7 million) from RMB 2,555.5 million in the first half. Gross margin at the Chinese footwear and apparel brand expanded 90 basis points to 42.3%. Footwear sales jumped 14% to RMB1,309.7 million, apparel gained 6% to RMB1,118.4 million and accessories sales were up 40% to RMB29.4 million. The Kids’ business climbed 13% to RMB306.9 million. Sales outside China, which is still a tiny slice of the pie, gained 44% to ... Log in to view full article.