Chinese sportswear brand 361 Degrees continued to struggle throughout 2013, reporting a 70 per cent net profit fall.

The company said 2013 turnover decreased by 27.6 per cent to 3.58 billion yuan ($579.4 million) while annual operating profit dropped by 59.3 per cent to 352.2 million yuan ($57 million).

The number of retail outlets selling adult clothing slid from 8082 to 7299.

It says the falling performance was triggered by the slowing economy and weak store traffic as consumers were confronted with an ever-increasing choice of brands and e-commerce which continues to pose threat to the traditional bricks and mortar stores.

“The group is fully cognisant of the challenges facing all sportswear companies and has implemented a number of measures to counter the difficult trading environment,” said the company in a statement.

It expects its joint venture with One Way, a Finnish brand with substantial exposure to Nordic sports in Europe, to benefit the company in high-end outdoor wear.