China Aims To Reach $460B By 2020 BT Group Sees Profit Adidas Seeking Buyer For Golf Business PSL Chair Announces $2.6M Profit Sunderland Reports £25.4M Pre-Tax Loss Sportech Wins Sport The Ball Tax Battle Finance Notes EPL Side Bournemouth Fined $11M North West 200 Running At A Loss ARU CEO Says Brumbies Remain Viable
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/April 9, 2013/Finance
French Sporting Goods Chain Decathlon Steps Up Presence In China
Published April 9, 2013
STAYING ON TOP: WANT CHINA TIMES also reported that many businesses in Jinjiang in the Fujian province "are struggling to stay afloat owing to the heavy burden of excess inventory." Six leading sportswear producers, including Anta, 361 Degrees, Xtep, Peak, Li Ning and Dxsport "have been forced to close more than 3,000 outlets across the country since last year, with heavy losses arising from their excess stock" worth more than 3.72B yuan ($594M). The situation among the city's other garment producers "was not much better in the first half" of '12, with 17.7% of clothing companies "suffering losses." The industry overall "has unsold inventory" worth 38.2B yuan ($6B), which accounts for three years of total sales revenue (WANT CHINA TIMES, 4/8).