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Li-Ning retail revamp finally working

Chinese sportswear brand Li-Ning is continuing to rebuild its massive Chinese store network as it works to return to profitability.

Li Ning seeks more cash

China’s biggest sportswear brand Li Ning is planning to raise US$218 million to fund growth and restructuring. The company plans a share issue ata price representing a 21.92 per cent discount on the previous trading close, a move which saw its share value decline in subsequent trading. Li Ning is under relentless pressure from local rivals including ANTA Sports Products and international brands like Nike, adidas and Converse. While the company said the cash injection would “support …

Li Ning loss widens

Chinese sports brand company Li Ning saw a net loss of 585.8 million yuan ($95.2 million) in this year’s first half compared to 184.2 million yuan loss last year. The company blamed the loss on upfront investment to implement the ‘Transformation Plan’ and reduced sell-in following a period of channel inventory stock reduction. Revenue increased eight per cent to 3.1 billion yuan due to the higher retail sales of new products with the group’s expanding self-owned retail store network. It…

Li Ning picks Oracle

China’s sports apparel and equipment company Li Ning is speeding up its transformation from manufacturer and wholesaler to a greater reliance on direct-to-consumer retailing. The Beijing-based company, which manufactures, develops, distributes, and sells sports products under several brands, has experienced strong sales in the last few years but is facing losses in an overcrowded sports goods apparel sector. It plans to transform its business from a majority wholesale model to include expan…

Li Ning to sink into the red

Chinese sports goods retailer Li Ning continues to struggle financially, warning of a widened net loss in the first half. Li Ning, whose backers include US private equity firm TPG Capital Management, expects a net loss of at least 550 million yuan ($88.66 million) on costs on sales network expansion and operation shake up. That’s higher than its net loss of 184 million yuan during the first half of 2013. However, executive chairman Li Ning said the company’s reforms will improve its fin…

Li Ning narrows loss

Chinese sportswear company Li Ning has reported a narrower loss in 2013 attributing it to the positive impact of its ‘Channel Revival Plan’. Li Ning posted a net loss of 392 million yuan ($63.03 million), far lower than the 1.98 billion yuan ($318.4 million) net loss of 2012. Revenue declined 13 per cent to 5.8 billion yuan ($932.7 million), partly due to a near-term focus on sell-in reductions, inventory clearance and optimisation of store network. “In the past year we were head on con…

361 Degrees profit slides

Chinese sports goods company expects further erosion of profit in the second half.

Exceed shutters almost 500 stores

Chinese slowdown continues to dent sports goods retailers.

Li Ning’s revenue slides

Chinese sports goods retailer expects improvement in the second half.

Intersport to enter China

Sports goods retailer to take ‘cautious’ approach…

Anta axes stores as profit falls

Adversity in sports goods industry drags down the retailer’s income.

361 Degrees culls network

Chinese sportswear company fails to overcome trading challenges.