Belle facing troubled times, with the footwear retail division worrying the retailer most.
Image credit: Belle International
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.
