Athleisure hurts Stella as revenues fall by 9.6%
02/09/2016
It achieved revenues of just over $720 million in the January-June period in 2016 compared to almost $800 million during the same period last year.
Over the six months in 2016, Stella shipped 25.4 million pairs of shoes, down by 4.5% from the 26.6 million pairs it produced during the same months in 2015.
On presenting the results, Stella chief executive, Lawrence Chen, said: “The first half of the year brought a fresh set of challenges and opportunities to our business. This included weaker than expected demand in our main export markets, as well as changing consumer tastes in favour of new trends such as athleisure. All of these impacted our shipment volumes, revenue and margins.”
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