All Yue Yuen articles
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ArticleFootwear stocks treaded water in a quarter marked by shareholder activism
The prices of stocks monitored by Shoe Intelligence grew by 1.3 percent on average in the first quarter of 2024, compared with the previous three months, in very volatile trade. The quarter was marked by shareholder activism. Tabor Asset Management, a US investment company that has a 1.1 percent stake ...
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ArticleYue Yuen’s profit, sales slip in 2023
Yue Yuen, the globe’s largest manufacturer of footwear, suffered a down year in 2023 due to inventory de-stocking by retailers worldwide and conservative ordering by its portfolio of brand clients that include Nike, Adidas, Asics and New Balance, among others. Yue Yuen’s annual Ebit declined by 5.6 percent to $390.2 ...
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News briefs
Yue Yuen's manufacturing sales decline again in December
Manufacturing sales of Hong Kong-based Yue Yuen Industrial fell by 2.4 percent to $420.4 million in December. It was the slowest decline in manufacturing sales last year. For the whole of 2023, sales were down by 18.4 percent. However, sales at Yue Yuen’s retail business Pou Sheng grew by 15.9 ...
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ArticleBelow-average order rates continue to impact Yue Yuen
Profit attributable to Yue Yuen fell by 49 percent to $137.7 million for the nine months ended Sept. 30 from $270.1 million a year earlier, as sales declined by 14.1 percent to $5.99 billion from $6.97 billion. Manufacturing revenues declined by 20.9 percent year-over-year to $3.79 billion. Ebit sunk by ...
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News briefs
Weak demand expected to prolong destocking in the U.S., EU
Weak demand in the U.S. and the European Union is expected to prolong destocking by brands and affect manufacturers of sportswear and footwear in 2024, according to the brokerage Jefferies. Despite resilient production by original equipment manufacturers (OEMs), Jefferies said that it has witnessed brands like Uniqlo “trimming orders and ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 for the six months ended June 30 from $175,049,000 a year earlier, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000. The company cited a sluggish global macroeconomic environment ...
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ArticleThe stocks of footwear companies slip led by British firms
The prices of stocks monitored by Shoe Intelligence fell by 7 percent in the second quarter of 2023 compared with the previous three months, when the cohort gained about 5 percent. Shares were driven lower by British constituents of the panel. Some companies were hit by worrisome financial situations, but ...
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News briefs
Yue Yuen’s industrial utilization rate is improving
Yue Yuen’s facility utilization rate is estimated to have improved based on the company’s monthly sales figures, according to the analysts of the U.S. bank Citi. In May, the company’s operating revenues fell by 7.5 percent year-over-year to $701.0 million after declining by 8.2 percent to $684.6 million in April. ...
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ArticleYue Yuen Q1 results impacted by soft global footwear demand
High inventory levels across the industry coupled with softer global footwear demand negatively impacted first-quarter results at Yue Yuen. For the period ended March 31, Ebit fell by 32.2 percent to $65.9 million from $97.1 million a year earlier. Net profit attributed to the company declined by 42.6 percent to ...
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ArticleYue Yuen to invest $276m in Indian plant
Yue Yuen has entered into a memorandum of understanding with the government of the Indian state of Tamil Nadu to invest 23 billion rupees ($276 million) to build a manufacturing plant. Under the agreement, the regional government will provide infrastructure support to the project including power, water supply, telecommunication facilities ...
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ArticleYue Yuen cautious about months ahead despite strong Q3
Yue Yuen reported a 171 percent increase in nine-month profit attributable to shareholders of $270.1 million versus $99.6 million. Revenues increased 8.2 percent to $6,971.9 million from $6,441.2 million for the period ended Sept. 30. Ebit was up 101 percent through nine months at $353.4 million, but gross margin was ...
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Article
Yue Yuen H1 profits dragged down by Pou Sheng
Yue Yuen reported a 2.8 percent increase in first-half net income of $175.0 million versus $170.3 million for the six months ended June 30. Six-month revenues fell by 2.0 percent to $4,709,792,000 from $4,807,087,000, however, manufacturing segment sales were up by 14.4 percent to $3.19 billion. Ebit declined 17.7 percent ...
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ArticleYue Yuen's profit dips on retail drag
Yue Yuen Industrial reported a 10.8 percent drop in first-quarter net profit to $97.1 million compared to $108.4 million in the year-ago period ended March 31, as growing manufacturing capacity was overshadowed by weak sales at its Pou Sheng Intl. retail subsidiary due to the resurgence of Covid-19 in mainland ...
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ArticleYue Yuen turns around despite a volatile operating environment
The annual net income of the world’s largest maker of athletic, casual and outdoor footwear hit $115.1 million in 2021 against a loss of $90.8 million in the prior year. Yue Yuen (YY) made an operating profit (Ebit) of $175.4 million for the year against an operating loss of $51.4 ...
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ArticleYue Yuen’s growth stopped in Q3
Yue Yuen reported a 3.2 percent increase in revenues from footwear manufacturing for the first nine months of 2021 on roughly flat deliveries of 179.0 million pairs. Revenues went up to $3,301 million because of an increase in the average price of 3.1 percent to $18.43 per pair, thanks to ...
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News briefs
Vietnam woes penalize Yue Yuen and other producers
Yue Yuen’s revenues were down by 24 percent to $541.5 million year-on-year in September, with decreases of 22 percent in manufacturing and 25 percent at retail. Total revenues were still up by 6 percent to $6.44 billion for the first nine months of this year. The company relies on Vietnam ...
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Article
Extended Covid restrictions in Vietnam are hitting companies hard
Footwear brands expected to suffer considerable damage from a decision by Vietnamese authorities to extend their strict Covid-19 restrictions in the Ho Chi Minh City region until the end of the month. They were originally scheduled to be lifted on Sept. 15, but the measures taken so far have prevented ...
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ArticleYue Yuen raises sales and margins, shifting to higher-end products
Shifting to higher-end products, the world’s largest shoe manufacturer managed to raise the average selling price of the products made at its factories by 6.5 percent to $18.37 per pairs in the first half of 2021. This helped Yue Yuen Industrial (Holdings) to expand the gross margin of its footwear ...
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ArticleYue Yuen swings to Q1 profit
Yue Yuen Industrial posted a net profit of $85.4 million in the first quarter, in the middle of the $80-90 million range that it predicted in April, compared with a loss of $56.3 million the year earlier. The gross margins of its manufacturing business and its Chinese retail subsidiary, Pou ...
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News briefs
Yue Yuen April operating revenues $786.3 million
Yue Yuen Industrial posted consolidated operating revenues of $786.3 million in April, resulting in accumulative operating revenues of $3,278.2 million in the first fourth months of the year. The company did not release comparative figures. Operating revenues represent total sales less sales discounts and sales returns. The Chinese company ...
