Feng Tay Tallies Double-Digit Sales Drop
Net income attributable to shareholders declined 54% in the second quarter to TWD 1,197.1 million ($38.9 mm) from TWD 2,582.6 million, on 17% lower revenues of TWD 20,656.4 million ($670.7 mm) down from TWD 24,763.3 million. The footwear and sporting goods manufacturer has been hit by destocking at its customers and their retail accounts, resulting in cancelled or pushed back orders. Gross margin ... Log in to view full article.
