Net income at the Chinese athletic brand slipped 5% last year to RMB 3,012,918,000 ($418.5 mm) from RMB 3,186,910,000 on 4% higher revenues of RMB 28,675,643,000 ($3,982.7 mm) up from RMB 27,598,491,000, but retail sell-through remained flat, including online and offline. More than offsetting better margins and OpEx leverage was a 71% decline in other income to RMB 154.2 million, along with lower net finance income due to the impact of exchange rate fluctuations.

Footwear sales increased 7% to RMB 14,300.3 million, driven by new models of core performance running shoes, which ... Log in to view full article.