Net income declined 10% at the Chinese apparel maker to RMB 2,126,829,000 ($303.2 mm) in the first half, from RMB 2,366,616,000 last year, as revenues slipped 15% to RMB 11,561,962,000 ($1,648.2 mm) from RMB 13,592,789,000. Sportswear sales dropped 20% to RMB 8,560.7 million, but casual wear increased 10% to RMB 2,299.8 million, and lingerie brought in RMB 612.7 million, roughly flat year-over-year. Other knitwear sales plunged 57% to RMB 88.7 million.

Shipments to the U.S. were hardest hit, tumbling 33% to RMB 1,831.4 million ($261.1 mm), with sales to Europe not far ... Log in to view full article.