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 It’s a tight shoe fit for China’s retail giant
Retail | 30.03.2016

Profit warning issued by Belle

It’s a tight shoe fit for China’s retail giant

It’s a tight shoe fit for China’s retail giant. Belle-Shop (Quelle: Belle International)
Belle facing troubled times, with the footwear retail division worrying the retailer most.
Bild: Belle International
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Belle International, China’s leading footwear, sporting goods and fashion retailer, has issued a profit warning. The notice refers to the last financial year 2015-16 which ended Feb 29. And for which the detailed figures are to be presented by the end of May. The management said that earnings might drop by 35-45 percent compared with the previous year.

It was said that the group mainly suffered from weak sales in its shoe shops, where even the income on a comparable basis dwindled. The retailer also struggled with its gross margin with increased operational costs for the stores.

In the first half of the financial year, both sales and earnings were up by 4 percent to 19.36 billion yuan renminbi (2,64 billion euro) and 2.2 billion yuan (300.0 million euro), respectively. It was already said, however, that the apparel and sports operations were in better shape than its footwear business.

Markus Huber (Quelle: ISPO)
Article by Markus Huber, editor
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