Net income at the Chinese multi-banner retailer dipped 10% to RMB 789.1 million ($110.5 mm) from RMB 873.8 million for the six months ended Aug. 31 on a revenue decline of 6% to RMB 12,298.6 million ($1,721.8 mm) from RMB 13,054.7 million. Principal brands’ sales from Nike and Adidas were down 5% to RMB 10,811.5 million. Other brands—which include Puma, Converse, Vans, The North Face, Timberland, Asics, Onituska Tiger, Skechers, NBA, Li-Ning, Hoka, and Kailas—were down 12% at RMB 1,412.1 million.

The sales weakness was mainly due to weak foot traffic in ... Log in to view full article.