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Stella International blames warm winter for slow start to 2016

18/04/2016
Chinese footwear group Stella International has reported revenues of $267.6 million for the first quarter of 2016. This figure represents a decline year on year of 6.5%, which the company said was attributable to a warm winter.

At the start of this year, Stella blamed rising labour costs for its decision to cease production at a factory in Dongguan that employed 10,000 people.

However, it said it expects volumes to pick up gradually in the second quarter of this year, driven by stronger demand in its “sports fashion” segment.

Stella believes demand for casual fashion shoes will wane but that sports fashion will more than make up for this.


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