Net income at the Chinese apparel and footwear brand jumped 42% to RMB432,403,000 ($62.6 mm) in 2019 from RMB303,665,000 on 9% higher sales of RMB5,631,866,000 ($815.3 mm) vs. RMB5,187,446,000, helped by a move to more expensive, higher-end products. Gross margin contracted 30 basis points to 40.3%, and operating expenses were up just RMB74 million and leveraged 100 b.p. on the higher sales. The brand’s points of sale in the PRC declined slightly to 5,519 stores last year from 5,539 at the end of 2018, and an additional 1,922 stores sell its 361° Kids line. The company is still evaluating the ... Log in to view full article.