2023 Interim Performance Report of China Clothing and Footwear Company

Xtep Group Reports Performance for the First Half of 2023 Fiscal Year

On August 23rd, Xtep Group announced its performance report for the first half of the 2023 fiscal year. 

Revenue increased by 14.8% year-on-year to 6.522 billion yuan. Gross profit margin was 42.9%, up from 42% in the same period last year. Operating profit increased by 7% year-on-year to 987 million yuan, with an operating profit margin of 15.1%. Net profit attributable shareholders of the company increased by 12.7% year-on-year to 665 million yuan. Xtep's main brand's revenue increased by 10.9% year-on-year to 5.43 billion yuan, and net profit increased by 12.7% year-on-year to 871 million yuan.

By segment, the revenue of the fashion and sportswear division, led by K-Swiss and Palladium, increased by 18.9% year-on-year to 749 million yuan. The professional sports division, represented by Saucony, experienced a significant growth of 119.9% in revenue, achieving profitability for the first time.

By product category, footwear sales amounted to 3.889 billion yuan, accounting for 59.6% of total revenue. Apparel sales were 2.497 billion yuan, accounting for 38.3% of total revenue. Accessories sales were 136 million yuan, accounting for 2.1% of total revenue.

Metersbonwe Turns Profitable in the First Half of 2023 Fiscal Year

On August 24th, Metersbonwe released its performance report for the first half of the 2023 fiscal year. The report is detailed as follows:

Operating income decreased by 22.77% year-on-year to 558 million yuan, while net profit narrowed by 96.37% to 10.26 million yuan. Sales and promotional expenses decreased by 73.71% to 96.04 million yuan, primarily due to the company's continuous optimization of its channel structure, reduced rental and labor costs. R&D investment decreased by 26.79% year-on-year to 22.61 million yuan.

By trade type, wholesale accounted for 70.69% of total revenue, with revenue decreasing by 42.68% to 393 million yuan. Others accounted for 29.31% of total revenue, with revenue increasing by 375.89% to 164 million yuan.

By retail channel, online channel revenue decreased by 34.43% to 126 million yuan, with a gross profit margin of 20.41%. Direct sales revenue decreased by 34.51% to 100 million yuan, with a gross profit margin of 43.88%. Franchise sales revenue decreased by 50.95% to 168 million yuan, with a gross profit margin of 37.74%.

By product types, men's clothing accounted for 43.84% of total revenue, with sales decreasing by 42.39% to 245 million yuan. Women's clothing accounted for 20.17% of total revenue, with sales decreasing by 41.79% to 113 million yuan. Other products accounted for 6.68% of total revenue, with sales decreasing by 46.89% to 37.31 million yuan. Other businesses accounted for 29.31% of total revenue, with sales increasing by 375.89% to 164 million yuan. As of the end of the reporting period, the group had 26 directly operated stores, and all businesses were located in mainland China.

Septwolves Releases 2023 Interim Performance Report

On August 24th, Septwolves released its key financial data for the first half of the 2023 fiscal year ending on June 30, 2023.

The report shows that Septwolves' operating income increased by 6.07% year-on-year to 1.536 billion yuan. Net profit attributable to shareholders of the company increased by 74.27% year-on-year to 157 million yuan. Net profit attributable to shareholders of the company before non-recurring gains and losses increased by 151.78% year-on-year to 116 million yuan. The Karl Lagerfeld brand, owned by Septwolves, saw a 36.71% increase in sales and a net profit of 15.25 million yuan.

Joeone Achieves 1.4 Billion in Sales in the First Half of 2023 Fiscal Year

On August 24th, Joeone announced its key financial data for the first half of the 2023 fiscal year. 

Operating income amounted to 1.401 billion yuan, an increase of 8.85% year-on-year. Net profit attributable to shareholders of the company was 92.42 million yuan, achieving a turnaround from losses. Net profit attributable to shareholders of the company before non-recurring gains and losses reached 138 million yuan, a YoY increase of 173.34%.

In the first hald of the 2023 fiscal year, men's trousers accounted for 51.31% of total revenue, still the company's core product, YoY increase of 19.36%. Regarding the composition of income by brand, both the Joeone and Ziozia brands saw revenue growth compared to the same period last year.