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Article Date: March 2024
Word Count: 329

Shenzhou Int’l Results Suffer from Waning U.S. and European Sales


Net income was flat last year at the Chinese apparel maker at RMB 4,557,263,000 ($630.2 mm) compared to RMB 4,563,165,000 on revenue that declined 10% to RMB 24,969,792,000 ($3,452.7 mm) from RMB 27,781,412,000. The top line was impacted primarily by weak consumer demand in the U.S. and Europe, which fell by double digits, coupled with industry wide destocking at its customers. Shenzhou, however, expects demand to bounce back, and is considering expanding the scale of its overseas production capacity to better meet the needs of its customers in different markets.

 

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