Li Ning's Q1 retail sales see low-single-digit growth

Li Ning (HKEX:2331) announced its latest operational update for the first quarter of 2025, revealing that overall retail sell-through for LI-NING POS (excluding LI-NING YOUNG) experienced low-single-digit growth year-on-year. Offline channels, encompassing retail and wholesale, also saw a low-single-digit increase, with retail (direct operation) showing a low-single-digit decline. Wholesale (franchised distributors) experienced low-single-digit growth, while e-commerce virtual stores registered low-teens growth. As of March 31, 2025, the total number of LI-NING POS in China stood at 6,088, reflecting a net decrease of 29 POS since the start of the year, with direct retail and wholesale accounts decreasing by 6 and 23 respectively. LI-NING YOUNG POS totaled 1,453, representing a net decrease of 15 POS since the beginning of the year. The company advises shareholders to exercise caution when dealing in its shares, as the data is unaudited.