Net income at the Chinese apparel supplier plummeted 40% to RMB 1,904,563,000 ($279.7 mm) from RMB 3,176,836,000 on 5% lower sales of RMB 14,179,177,000 ($2,082.1 mm) against RMB 14,966,384,000. Sportswear sales contracted 11% to RMB 9,041.8 million, dragged down by slowing demand in the U.S. and Europe; however, casual apparel grew 5% to RMB 3,962.9 million. Lingerie sales improved 6% to RMB 997.8 million, and other knitwear grew 6% to RMB 176.7 million.

Shipments to the U.S. were down 11% to RMB 2,257.1 million ($331.4 mm) as overseas brands adopted a cautious ... Log in to view full article.