Ever-Glory closes 270 stores in 2015 - sportstextiles: Lea SportsTextiles

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Ever-Glory closes 270 stores in 2015

31/03/2016
Chinese sportswear group Ever-Glory opened 228 stores in 2015 but closed 270 and remodelled or relocated 216, to give a total of 1,159 across over 300 cities in China.

Total sales for the year were $421.4 million, an 8.4% decrease from 2014.
However, the company is optimistic for 2016.

CEO Yihua Kang said: “During 2015, soft global economy and Chinese retail conditions led to a challenging consumer environment, impacting sales in both our wholesale and retail businesses.

"While we expect economic pressures to persist, we remain optimistic regarding our future growth opportunities. With a wholesale strategy focused on mid-to-high end customer base expansion, supply chain management refinement and manufacturing process optimisation, and a retail strategy focused on retail store management and customer-driven product development, we believe our efforts will support the long-term sustainability of our overall business."

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