Xtep revenues plunge 20%
14/03/2014
Chinese sportswear group Xtep International Holdings has reported a 21% decline in revenues for 2013 to RMB 4,343.1 million ($703 million), which it attributes to “self-initiated sales order reductions” and joins peers Li Ning and Anta which also suffered due to overstocking and high inventory levels in 2012 and 2013. The manufacturer and brand...
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