Net income at the Chinese retailer grew 5% in the year ended Feb. 29 to RMB2,303.4 million ($333.4 mm) from RMB2,199.8 million on 3% higher sales of RMB33,690.2 million ($4,877.0 mm) up from RMB32,564.4 million. The Covid-19 pandemic, which closed most of its stores for over a month starting with the Lunar New Year, was blamed for the deceleration in sales from the 12% pace in H1. Nike and Adidas, Topsports’ principal brands, accounted for 87.5% of sales and grew 4.4%, while other brands including Puma, Converse, VF Corp. (Vans, The North Face and Timberland), Reebok, Asics, Onitsuka Tiger and ... Log in to view full article.