China sports brand agency business - Li Ning Company Limited (2331.HK: Quote) said on Thursday, despite the uncertain economic environment, but will continue its expansion plan, including retail stores this year will be increased by the end of last year 6,245 7,000 homes, There is also no plan to lower product prices. There are many different looks you can go with when choosing bar stools for your breakroom, cafe, restaurant, bar, or hotel. Not only is the way a stool looks matters to see if it fits in with your decor, but the functionality of it.We've highlighted some of the types of Kitchen Bar Chair,Garden Barstool,Restaurant Stool,Y Bar Stool available and that you can find on our site! Kitchen Bar Chair,Garden Barstool,Restaurant Stool,Y Bar Stool STARWAY INTERNATIONAL HOME-LIVING CO., LTD , https://www.starwayfurniture.com
Although the Beijing Olympics has driven the sales of sporting goods in China, distributors still need to digest inventories after the Olympics as some products grow faster than the sales rate. Some brands even sell at lower prices.
Zhang Zhiyong, CEO of Li Ning also admitted at a press conference that the economic market is very unstable. Although many data in China seem to be getting warmer and the fundamentals such as employment have not seen any significant changes, the growth of China's sporting goods market this year is either 15% , Lower than originally expected 15-18%. However, Zhang Zhiyong said Li Ning did not plan to follow mark-up sales.
"Our goal of opening a shop for the whole year will not change and the current sales are very healthy, exceeding our expectations ... The price cuts are not suitable for the products and we will maintain the strategy of unit price growth." Zhang said that he also disclosed that the first two months Single-store sales growth recorded double-digit.
Li Ning is currently the largest local sports brand with the largest market share in China, behind the international brands after Nike (NKE.N: Quote) and Adidas (ADSG.DE: Quote) .Li Ning based in China has been deployed in 2013 After years into the overseas market, determined to 2018 to become one of the world's top five sports brands, and more than 20% of revenue from overseas markets.
As of the end of last year, a total of 6,245 Li Ning shops were registered, with a net increase of 1,012 during the year. Li Ning plans to increase the number of Li Ning shops to 7,000 by the end of 2009 and surpass 10,000 in 2013.
Sporting goods distributors and retailers generally book their goods about six months ahead of schedule.Li Ning CFO Chung Yick Kei said the third quarter of this year's overall sales growth of 12.7%, the average price of clothing and footwear increased by 15.1% and 4.7%. Compared with 42% in the first quarter and the second quarter and 31.6% in the third quarter, the sales growth slowed down significantly.
"After the first quarter of the fair, I said retailers are overly optimistic, and the third quarter is now too pessimistic," said Zhang Zhi Yong, who believes the inventory of the entire sporting goods industry is expected to return to normal next year.
Li Ning announced on Wednesday that its net profit for the year ended December 31 was RMB721 million, up 52% ​​YoY, better than expected in the market, Nomura said that the performance of Li Ning reflects the company's chances of benefiting from marketing during the Olympics. 