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H1 retail apparel sales increase in China

05
Aug '19
Pic: Shutterstock
Pic: Shutterstock
Apparel sales, both brick-and-mortar and retail, witnessed a steady growth in the first half of 2019, according to China's ministry of industry and information technology (MIIT). During the same period, however, exports of clothing and accessories decreased 4.7 per cent year-on-year to $66.6 billion, MIIT data showed. Profits of these companies also dropped.
 
Considering garment enterprises each with an annual operating revenue of 20 million yuan (large scale), their retail sales increased 2.7 per cent year-on-year to 475 billion yuan ($68.5 billion) in the first six months of 2019.
 
The output of these enterprises shrunk 1.1 per cent to 10.4 billion pieces during the six-month period.
 
Online retail sales of apparel shot up 21.4 per cent compared to a year ago period, the data showed.
 
The combined operating revenues of large scale companies stood at 761.6 billion yuan, up 2.2 per cent year-on-year during January-June 2019, while profits of these companies dropped 0.8 per cent to 38.2 billion yuan during the period. (RKS)
 

Fibre2Fashion News Desk – India


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