Home / Knowledge / News / Apparel/Garments / Same Store sales is highly respectable at 361 Degrees
Same Store sales is highly respectable at 361 Degrees
14
Oct '10
361 Degrees International Limited, one of the leading sports brand enterprises in China, is pleased to announce that its same store sales growth for the third quarter of 2010, representing the first quarter of its financial year 2010/2011, was a highly respectable 16.2%. Based on returns submitted by almost 3,500 stores which had been in operations by 1 July 2009, that is, with more than 2 years of trading, the third quarter saw continuing strong momentum in most of its franchised outlets, with July a particularly robust month.

Channel inventory remained at a healthy level, with the stocks at 30 September 2010 comprising about 2.6 months of average monthly sales, based on returns from about 4,800 stores.

During the quarter, a total of 89 new outlets, on a net basis, were added to the network, bringing the total number of franchised stores to 7,016 as at the end of September 2010. Most of the new openings were in the Northern Region where the Company had emerged as a leading brand in the sportswear sector, especially in Shandong province.

This year, the Mid-Autumn Festival and the October National Day celebrations fell in close proximity, enabling a prolonged promotional period. With generally good weather prevailing in most parts of China, huge crowds thronged the streets in good mood with strong patriotic undertones. This bode well for sales and a sample survey of 680 stores throughout the country for the first few days of October showed brisk sales in excess of 25% growth when compared with the same period last year.

There is considerable progress in the new business unit, 361 Degrees Kids, as deliveries from its own April Trade Fair picked up momentum during this quarter. A further 111 outlets were opened during this period under review, bringing the total network to 347 as at the end of September 2010.By 30 September 2010, the Company's own e-POS system is connected to all the franchised stores in the six provinces of Guangdong, Hainan, Yunnan, Sichuan, Fujian and Hebei, bringing the total now providing online, real-time access to over 2000 retail outlets. There will be a progressive rollout to the remaining stores over the next two years.

361 Degrees International Limited is one of the leading sports brand enterprises in China, possessing brand marketing, research and development, design, manufacturing, distribution and retail capabilities. The Group's products include footwear, apparel, accessories and equipment for sport and leisure uses and a distinct product line for children. The Group has established an extensive supply chain management system through proprietary and sub-contracted manufacturing operations, and an exclusive distribution and retail network in China through distribution via authorized distributors.

361 Degrees International Limited


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X