As China’s economic recovery continued in the first half, macroeconomic headwinds persisted and the unemployment rate rose, resulting in a 8% decline in net income attributable to shareholders to RMB 1,952,032,000 ($271.5 mm) from RMB 2,121,231,000 despite revenue ticking up 2% to RMB 14,345,288,000 ($1,995.2 mm) from RMB 14,018,947,000. Total retail sell-through, including brick-and-mortar and e-commerce, was down low-single digits. Li Ning hopes to get a boost from the Paris Olympics and strengthen its perception as a professional brand with consumers.

Footwear sales grew 4% to RMB 7,844.2 million, but apparel was ... Log in to view full article.