Brand Suppliers Nine Hing, Three Quarter Revenue To Achieve A Slight Increase

Prada SpA Prada, Michael Kors Holdings Ltd. (NYSE:KORS) footwear and leather suppliers nine Xing Holdings Limited Stella International Holdings Ltd. announced today that the three quarter realized revenue of $569 million, an increase of 4.3% over the same period last year 545 million 700 thousand US dollars.

Nine Hing Holdings expects the continued expansion of global business and the continued growth of demand for fashionable sports shoes will help shoe shoe orders to increase further at the end of this year and early 2016. The order level will also be enhanced by the efficiency and utilization of the group's facilities in China and Southeast Asia. Thus, it is prudently expected that shipments will reach 58 million pairs by the end of 2015.

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Driven by an increase of 6.3% to 16 million 800 thousand sales, revenue rose by 5.5% to $557 million a year, and the average selling price dropped 0.6% to $33.2 per pair due to the cost of raw materials such as leather.

China owns Stella Luna and What For, and other brands.

Revenue fell 22.2% to 15 million 400 thousand U.S. dollars over the same period last year, compared with 19 million 800 thousand US dollars in the same period last year. The decline was further expanded compared with 14.8% in the first half of this year. It was mainly affected by the same store sales decline from 15.6% in the first half to 18.4%, while same store sales fell to 13 million 300 thousand US dollars.

As of September 30th, the group had 251 stores with a net reduction of 20.

In the earnings report, the group said it would continue.

The establishment of new independent stores and stores, and continue to increase brand awareness in Europe, and then increase the brand value among Chinese consumers.

Nine Hing Holdings closed at HK $18.92 on Thursday, a 0.96% rise all day, and the stock has fallen 7.48% since 2015.