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.

 <