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361 Degrees International with 88.2% increase in profit

Mar 26, 2015 Hong Kong
361 Degrees International with 88.2% increase in profit
Chinese sports brand turnover reached 0.57 billion euros in 2014 going up by 9.0%. Outstanding growth registered in profit attributable to shareholders
During the year under review, the group’s revenue totaled 0.57 billion euros, growing 9.0% year-on-year. Although orders from spring/summer and autumn 2014 trade fairs recorded a 8% and 7% decrease, respectively, 361 Degrees believes this could be fully compensated by the “increase of the 2014’s winter products order book by 8% year-on-year and by the delayed deliveries of the 2013’s winter products in the beginning of 2014 because of a late coming winter in 2013”.

Sales momentum continued in retail stores stimulating distributors and retailers to increase orders. The growth trend reflected by the gradual positive order book responses from the trade fairs held in 2014.

Turnover of the business of footwear grew 2.2% whereas apparel and accessories increased by 11.3% and 36.6%, respectively. Such performance can be attributable to the adjustment of discounts from 60% to 65% to distributors starting from the 2014’s products ordered at trade fairs and to a bigger volume of 2013’s winter apparel and accessories were delivered in the first half of the year which pushed the turnover and the average wholesale selling price (AWP) up year-on-year.

Seasonality in footwear was less significant than in apparel, resulting in footwear AWP down by 7.8% to 12.7 euros, while that of apparel and accessories increased by 8.2% and 26.4% to 10.77 euros and 2.32 euros, respectively.

Sales volume of footwear, apparel and accessories all recorded increases. Revenue from sales increased by 10.9%, 2.8% and 8.4% to 18.0 million pairs, 23.9 million pieces and 5.7 million pieces, respectively for footwear, apparel and accessories.

Revenue of 361º Kids for the year ended on the 31st of December 2014 maintained its momentum and grew by 20.7% to 74.37 million euros, accounting for 13.0% of the group’s turnover. The increase in revenue in the kids segment is revealing of the potential for further growth.

Profit attributable to shareholders increased by 88.2% in 2014, reaching 58.26 million euros.
 
361 Degrees is one of the largest sports brand enterprises in China and focus in the design, manufacturing, distribution and retail of footwear, apparel, accessories and equipment for sport and leisure through 7319 franchised stores and authorised distributors across China.

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