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SBD Global/February 22, 2013/Finance

Sportswear Company Xtep To Close More Than 100 Stores In China

Chinese fashion sportswear company Xtep Int'l Holdings announced it closed nearly 100 shops in '12, adding to a total of more than 3,000 store closures in the sporting goods industry last year, according to WANT CHINA TIMES. Xtep was the last among China's six leading sports brands "to take steps to close stores, following similar moves by its counterparts such as Li-Ning, Peak Sport and ANTA Sports." Xtep CFO Terry Ho said that the company plans to "shut down an additional 100 to 200 stores this year" (WANT CHINA TIMES, 2/21).
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