Net income improved 54% to $95,918,000 from $62,226,000 for the FY ended Dec. 31 despite a sales drop of 3% to $1,544,830,000 from $1,588,583,000 as the high end sneaker factory continued to build capacity outside of China to handle a strong sports fashion business while prioritizing margin over volume in its women’s fashion and casual businesses. It is also moving to integrate a related company manufacturing leather accessories into the public company as a new growth channel. Unit sales declined by 1.3% to 59.4 million pairs while ASPs were steady at $25.80.

As for the pandemic, it said the workforce return ... Log in to view full article.