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Published
Mar 31, 2011
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Li Ning says Q3 2011 order value falls 8 pct yr/yr

By
Reuters
Published
Mar 31, 2011

March 31 - Chinese sporting goods distributor Li Ning Company Ltd said late on Wednesday its orders for delivery in the third quarter of 2011 fell 8 percent in terms of value from the same period a year ago.

Li-Ning
Tan Wee Seng, former gymnast and current CFO of Li Ning Group sporting goods company.

Li Ning said order volume for the quarter slumped 17 percent year-on-year for both footwear and apparel products but that average selling prices increased about 17 percent.

The homegrown sports brand earlier this month projected order growth would decline in the third and fourth quarters compared to the previous two quarters, but saw a slight improvement in store sales for 2011.

Rivals ANTA Sports Products Ltd and Peak Sport Products Co Ltd earlier this year recorded about 20 percent rises in third quarter order book value.

Li Ning shares were down about 22 percent so far this year as of early Thursday morning, versus a 2 percent rise in the broader market .

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