Net income attributable to shareholders declined 25% to RMB 1,836.6 million ($272.6 mm) in the fiscal year ended Feb. 28, down from RMB 2,446.5 million the year before, as revenues at China’s biggest sportswear retailer slipped 15% to RMB 27,073.2 million ($4,018.6 mm) from RMB 31,876.5 million. Topsports called retail conditions last year, “the most challenging ever since the beginning of the pandemic,” as Covid-related shutdowns hindered store traffic. Although total sales suffered, e-commerce soared year-over-year to low-20% penetration, led by the chain’s online private domain. Total registered members increased 18% ... Log in to view full article.