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Article Date: August 2017
Word Count: 189

Li Ning Profits Jump in H1


Net income from continuing operations soared to RMB189,170,000 ($27.6 million) from RMB68,309,000, excluding the divested Double Happiness brand, on sales that gained 11% to RMB3,996,051,000 ($582.3 million) from RMB3,595,635,000 in the first half ended Jun. 30. Profitability was driven by more high-margin e-commerce sales, which represent 18.2% of revenues up from 12.8% last year, adding 100 basis points to gross margin, now at 47.7%. Brick-and-mortar DTC accounted for another 33.6% of sales, with wholesale now well below half at 45.9% of sales. There were 4,785 franchised brand stores and 1,544 directly operated retail stores at ... Log in to view full article.

 


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