Chinese footwear retailer Belle says it is cautious about its prospects for this year as it competes with rapidly growing e-commerce.

The retailer has over expanded at department stores in the past years, resulting in a slower sales growth, triggered by competition from e-commerce.

Belle has seen its profit in 2013 modestly grow 3.2 per cent to 4.49 billion yuan ($734.5 million).

“Traditional retail channels, including the street shops and department stores, are under continued pressure due to weak foot traffic,” said CEO Sheng Baijiao.

But, the company said it remains committed to opening around 1000 stores annually in the next three years.

Belle has 19,077 stores in mainland China and 156 in Hong Kong and Macau.