In the second quarter, unaudited consolidated revenue fell by 2.8% to US$431.4 million, while shipment volumes dropped by 6.7% year-on-year to 14 million pairs.

However, this latter decline was softened from the first quarter, which the company attributes to an ongoing reshaping of its product and customer mix.

Unaudited consolidated revenue for the first half of the year was down by 13.4% to US$716.0 million, while shipment volumes fell by 18.6% to 23.6 million pairs.

The company’s average selling price for footwear was US$30.20 in the second quarter of the year and US$29.60 in the half.

CEO Chi Lo-Jen said: “The relative improvement of our top-line performance in the second quarter versus the first quarter is in line with our expectations for the full year.”

Chairman Lawrence Chen added: “We remain committed to our Three-Year Plan and are confident about growing our profitability and achieving ongoing margin expansion in the medium-to-long-term as we continue adding new luxury and high-end fashion customers.”