The Chinese athletic brand’s net income slipped 3% to RMB 2,935,743,000 ($408.3 mm) last year from RMB 3,012,918,000, as revenues inched up by nearly the same percentage to RMB 29,598,417,000 ($4,116.6 mm) from RMB 28,675,643,000. Overall retail sell-through across channels remained flat, with new product accounting for a healthy 83% of overall sell-through, and channel inventory was stable at about 4 months of sales. Li Ning’s wholesale business grew 6% to RMB 13,773.2 million. Direct-to-consumer sales were mixed, with owned brick-and-mortar down 3% to RMB 6,654.9 million while DTC e-commerce increased ... Log in to view full article.