Dongxiang first-half sales may have fallen 45%
08/07/2011
China Dongxiang Group, a sportswear retailer in China, expects sales to decline and profit margin to shrink in the first half of the year as competition intensifies.
Sales may fall by about 45% in the six months ended June 30, China Dongxiang said in a statement to the Hong Kong stock exchange on 8 July, 2011.
“The sports goods industry in China is facing a new series of challenges, including intensifying competition and excess inventory,” the company said.
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