Daphne reports decline in Q1 sales - footwearbiz: Leading site for glo

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Daphne reports decline in Q1 sales

18/04/2013
Women’s footwear manufacturer and retailer Daphne, one of the largest shoe groups in China, has reported a disappointing start to 2013, with first-quarter sales falling by 2.5% compared to the same time last year.

Daphne attributed the fall to high growth figures in 2012 and to a slow recovery and relatively cool weather in China in the early part of this year. GDP in China rose by 7.7% in the first quarter, according to official government figures, slower growth than predicted.

In the first three months of the year, Daphne increased its retail footprint by 100 stores, bringing the total number of footwear outlets it runs in China to 6,469.


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