Domestic

Li Ning says Q4 store sales growth at 3.6%

(Agencies)
Updated: 2011-01-17 10:21

HONG KONG - Li Ning Group Ltd said on Monday that same-store sales growth of its L-Ning brand products increased 3.6 percent in the fourth quarter and about 3.9 percent for the full year.

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In a filing with the Hong Kong bourse, China's home grown sporting goods brand said it estimated the revenue growth rate of Li-Ning brand products for 2010 to be broadly in line with that of the China sporting goods industry.

The gross profit and net profit margins for 2010 were broadly in line with levels achieved in 2009, while new store openings fell short of the target set at the beginning of 2010, the company said.

The total number of Li-Ning brand stores was more than 7,900 at the end of 2010, and the retail discount rate offered for the fourth quarter was about 22 percent, it said.