31 July 2025
Xtep announced its 2Q25 operational results, with retail sales for its Xtep Core Brand recorded a LSD growth YoY, slowing down from MSD/+10% growth in 1Q25/2Q24. Breaking down by month, sales in April/May were better than June, amid Golden Week in May and also this year’s 618 festival started a week earlier than last year. In terms of sales channels, online growth was better than offline, with offline sales grew slightly YoY. In terms of products, revenue from shoes was better than apparel, with running and outdoor products outperforming other sports products. Running shoes was the bright spot and enjoyed double digit YoY growth in 1H25. Kidswear sales also fare better than adultwear. Retail inventory turnover was at a healthy level of 4-4.5 months (1Q25: 4 months) while retail discount level was at 25%-30% (1Q25: 25%-30%). July MTD sales have been satisfactory and is better than June, with online sales doing better than offline