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Hong Kong headquartered designer, manufacturer and retailer of footwear and leather goods, Stella International Holdings, has posted a 4.1% increase in shipment volumes and a 2.5% decline in manufacturing revenue in the three months ended September 30, 2017.
The Group says it recorded an unaudited consolidated revenue (including its manufacturing business, China and Europe retail businesses, inter-segment sales eliminations) of approximately US$452.4 million (2016: US$475.3 million) and US$1,214.1 million (2016: US$1,192.8 million) for the three months and nine months ending September 30. This represented a decrease of about 4.8% and an increase of approximately 1.8% as compared to the unaudited consolidated revenue for the corresponding periods in the previous year.
Revenue from the manufacturing operations dropped -2.5% to US$443.5 million and increased +1.4% to US$1,161.0 million in the three and nine months ended September 30, 2017, respectively. Shipment volumes rose +4.1% to 15.2 million pairs and +5.5% to 42.2 million pairs, respectively over the same periods, year-on-year.
Stella attributes the increases in revenue and shipment volumes for the nine months to growing demand for fashion athletic products, “although the growth rate gradually normalised in the three months ended September 30, 2017”.
Looking forward, the footwear Group says it expects orders for its fashion athletic products to continue to grow at a normalised pace. “While we are cautiously optimistic about the future demand environment, we will closely monitor potential external risks, particularly the escalation of tensions between the U.S. and North Korea, the formal commencement of Brexit negotiations, as well as growing calls for more trade protectionism in some markets, including the push by some parts of the U.S. government to introduce import tariffs on Chinese-made goods”, says a statement.
Previously, the Hong Kong based developer, manufacturer, and distributor of footwear products posted consolidated revenue for the year ended December 31, 2016 of US$1.55 billion, representing a 12.4% decline over the previous year, alleging that changing consumer tastes impacted Stella’s performance. Read more here.