The fall, now reported, was even more impressive than the 10% decrease seen in the June-August term.

On the other hand, Belle apparel business, which includes the Nike and adidas sportswear segments, posted same-store sales increase of 4.6%.

The group with 13 145 footwear stores across mainland China, has a portfolio of company-owned and distribution brands. Company-owned brands of the footwear business mainly include Belle, Teenmix, Tata, Staccato, Senda, Basto, Joy & Peace, Millie’s, SKAP, :15MINS, Jipi Japa, Mirabell, etc. Distribution brands mainly include Bata, Clarks, Hush Puppies, Mephisto, Caterpillar, etc.

For company-owned brands, the group mainly adopts a vertically integrated business model which covers product research and development, procurement, manufacturing, distribution and retailing. For distribution brands, Belle operates the business mainly in two different models, brand licensing and retail distribution.