30 Jan 2026
Xtep announced its 4Q25 operational results, with retail sales for its Xtep Core Brand recorded a flat growth YoY, as compared with LSD/LSD growth in 3Q25/2Q25. Breaking down by month, sales in Oct/Nov were better than Dec, as Dec was negatively affected by warmer weather and delayed CNY. In terms of sales channels, online growth was better than offline, with online channel maintaining a double-digit YoY growth. In terms of products, running shoes and outdoor shoes enjoyed faster growth than other categories, with a double-digit full year YoY growth. Kidswear sales also fare better than adultwear. Retail inventory turnover was at a healthy level of 4.5 months (3Q25: 4-4.5 months) while retail discount level was at 25%-30% (3Q25: 25%-30%).