361 Degree: Net Profit Will Decline By 4% In 2020, And Sales Volume Of Core Brands Will Decline
On March 23, 361 sports brands released the financial year 2020 performance announcement. According to the announcement, in 2020, the turnover of 361 degree will drop by 9% to 5.127 billion yuan, and the net profit will drop by 4% to 415 million yuan.
The group's two core products, footwear products and clothing products, decreased by 12.8% to RMB 2.08 billion and 2.8% to RMB 2.0 billion, respectively, and the accessories products decreased by 47.3% to RMB 52.83 million.
The turnover of 361 children's wear business decreased by 6.7% to 932 million yuan, accounting for 18.2% of the group's turnover. The company's e-commerce business online supply sales revenue of 792 million yuan, accounting for 15.4% of the total revenue.
As of December 31, 2020, the group has opened 5165 361 core brand stores.
In the future, the group encourages distributors and authorized retailers to open larger stores in shopping malls and department stores while closing smaller stores to streamline retail stores.
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