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Meike International Holdings Ltd gives FY 2013 earnings guidance


Friday, 17 Jan 2014 05:03am EST 

Meike International Holdings Ltd:Expects to record a more substantial loss for FY 2013 as compared to the loss recorded for FY 2012.This is mainly due to the domestic demand is still stagnant, competition within the sportswear industry in China is still intensive, deep discount and intensive promotional sales of the major local brands had adversely affected the sales of the group;.The group has cleared up the excessive slow-moving and aged inventories through certain independent export companies with deep discount;.The group has reduced the distributors’ volume sales orders for the year and further discounts have been given by the group to its distributors for both footwear and apparels; and.The number of outlets for distribution networks decreased from about 1,197 in Dec. 2012 to about 562 in Dec. 2013. 

Company Quote

0.37
0.0 +0.00%
24 Nov 2014