Chinese casual menswear retailer Xiniya has closed 82 retail stores in the first quarter.

The 1514-store chain has suffered from China’s economic softening and aggressive discounting and has seen its Q1 net profit decline 19.9 per cent to 26.6 million yuan ($4.3 million).

Revenue during the quarter decreased by 7.5 per cent to 204.6 million yuan, compared to 221.2 million yuan in the first quarter of 2013, which is within the prior guidance of a decrease of 7-11 per cent.

Second quarter revenue is expected to fall in the range of 15 to 10 per cent.

However Xiniya says it has a focused strategy and is optimistic about its future long-term sustainability.