World Footwear

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361 with dynamic sales growth

Jul 20, 2016 Hong Kong
361 with dynamic sales growth
The Hong Kong-based group delivered a 7.0% growth for the 361° Core Brand sales during the second quarter of 2016
361 Degrees International Limited continues to operate on its franchised business model with 31 exclusive distributors.

By the end of the second quarter of 2016, there were 261 new stores, against 510 closures, bringing the company’s distribution network to a total of 6 853 outlets.

According to the 361° closure of stores was primarily due to urban construction planning and the impact of heavy rainfall in the Southern China on street stores.

Based on data from a sample of 3 539 outlets which have been in operation for more than 24 months, the group delivered a 7.0% growth for the 361° Core Brand same store sales.

Regarding independently-run business unit 361° Kids Brand, the group has confirmd that by the end of the second quarter of 2016, there were 40 new stores, which compares to 95 closures, bringing the total to 2,416 points of sale for 361° Kids, which is an independently run business unit.

Same store sales growth for this business segment reached 7.3% in the period.

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