Exceed highlights China’s woes with profits down 58%
03/04/2013
Exceed, the owner and operator of the Xidelong brand and one of the leading domestic sportswear brands in China, announced revenues down 27.5% to $382.6 million for 2012 and profits dipping 58% to $31.9 million. Initial forecasts for sports product demand for 2012 proved to be overly optimistic, leading to an industry-wide build-up of inventory....
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