The Chinese footwear and apparel company’s net loss declined to RMB 386,227,000 ($56.3 mm) in the fiscal first half ended Sep. 30 from a loss of RMB 747,949,000 last year with both periods dominated by losses from changes in fair value of financial instruments. Revenues declined by 9% to RMB 776,339,000 ($113.2 mm) from RMB 851,893,000 as Covid shutdowns across China impacted traffic at Kappa and Kappa Kids’ stores. Gross margin was 240 basis points lower at 62.4% due to increased discounting and inventory clearance. Distribution expenses were down 12% and ... Log in to view full article.