361 Degrees’ Profits Jump on Higher Sales
Net income attributable to shareholders at the Chinese sportswear brand was up 29% to RMB 961.4 million ($135.7 mm) last year over RMB 747.1 million on a 21% revenue gain to RMB 8,423.3 million ($1,189.1 mm) from RMB 6,960.8 million, getting a boost from sponsorship at the 19th Asian Games, consumer confidence bouncing back and ongoing government investment in the industry. Retail sales in adult categories were up in the low-doubles for H1, ramping up to 15% in Q3 and over 20% in Q4, while brand heat success at online festivals ... Log in to view full article.