361 Degrees sees profit fall 37%
07/03/2013
It reported turnover of £529 million and gross profit of £210 million for the year ending 31 December 2012.
To control its inventory levels, 361 said it has agreed with its distributors to cancel some of the orders placed at trade fairs for not-yet-produced goods.
The company closed 96 stores in the fourth quarter of 2012. It operated 8,082 retail outlets at the end of December, with about 72% located in tier 3 and smaller cities.
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