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The Hong Kong based developer, manufacturer, and distributor of footwear and leather goods, says shipment volumes rose in the fourth quarter of 2017, led by casual and fashion products.
Stella International Holdings has reported a 11.6% increase in shipment volumes for the fourth quarter of 2017 and says high-end customers in fashion athletic segment are providing a foundation for future growth. The Group recorded an unaudited consolidated revenue of around US$357.2 million (2016: US$356.2 million) in the three months ending December 31. For the full year 2017, the amount reached US$1,571.3 million (2016: US$1,549.0 million). This represents an increase of +0.3% and +1.4%, respectively, year-on-year.
Revenue from Stella’s manufacturing operations are said to have increased +2.1% in the fourth quarter to US$349.3 million, and +1.6% to US$1,510.3 million for the full year. “Shipment volumes saw signs of recovery, increasing by 11.6% to 14.4 million pairs and by 7% to 56.6 million pairs, respectively, over the same periods, as compared to the corresponding periods of last year”, says the Group in a statement.
The increase in revenue and shipment volumes, particularly in the last quarter of the year has been attributed to a recovery in demand for our casual and fashion footwear products. Volume growth for Stella’s fashion athletic products continued to normalise in the three months ending December 31 and was the primary contributor to growth in the year, according to the Group.
Looking forward, Stalla says they remain cautiously optimistic about shipment volume recovery and they are also seeing early-phase contributions to the fashion athletic segment from high-end customers, which are providing a foundation for future growth. “We will continue to closely monitor whether buoyant consumer sentiment in the U.S. and most parts of Europe will support a broader recovery and will also closely monitor potential risks posed by the ongoing consolidation among footwear brands, the shift of end-sales to online platforms, as well as geopolitical factors such as growing calls for trade protectionism, U.S.-North Korea tensions and Brexit”, says the Group.