Date
29 March 2017
Xtep's CFO Ho Yui-pok (in blue sportswear) is upbeat about his firm's sales prospects this year. Photo: HKEJ
Xtep's CFO Ho Yui-pok (in blue sportswear) is upbeat about his firm's sales prospects this year. Photo: HKEJ

Xtep sees robust growth in same-store sales in 2016

Xtep International Holdings (01368.HK) expects its sales growth to remain robust this year due to improving demand for sportswear products in mainland China.

The company sees high-single-digit growth in same-store sales, the Hong Kong Economic Journal reported, citing chief financial officer Ho Yui-pok.

Xtep has enjoyed 10-percent expansion in orders for two consecutive seasons, and the trend is likely to continue in the coming quarter, the executive said.

The Chinese firm plans to boost the revenue contribution from soccer shoes, which account for around 40 percent of its overall shoe sales.

The number of stores is expected to remain at over 7,000 this year, but the company will step up efforts on the online-to-offline business.

E-commerce business is expected to see its share in revenue rise to 10 percent, Ho added.

In Hong Kong, Xtep is seeking to renew a sponsorship agreement for the Standard Chartered Hong Kong Marathon.

The publicity surrounding the sponsorship is said to have helped Xtep boost its sales significantly on the first day of the event over the weekend, compared with the first-day sales booked previously.

[Chinese version中文版]

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