Yue Yuen Warns of Halved Q1 Profits
The footwear manufacturer and parent of Chinese retailer Pou Sheng said that first-quarter net income attributable to shareholders is expected to fall between 50% and 55% from a year ago to $34 to $38 million. Manufacturing revenue dropped 6% for the period as Yue Yuen’s brand customers pulled back on orders, due to weakening consumer sentiment. Average selling prices edged ... Log in to view full article.
