Stella (HKG:1836) 2011 Revenue $1.49B, Up 15% YoY


Stella International (HKG:1836) has published an update on the operational statistics for the quarter and the year ended 31 December 2011. The unaudited consolidated revenue of the group was approximately US$354 million and US$1.493 billion respectively, up 9.6% and 15.4% on year. The increase in total consolidated revenue is mostly attributed to the group’s efforts to continuously improve its manufacturing operations and its unique ability to serve luxury and premium brands.

Average selling prices for the three months and year ended 31 December 2011 were US$26.3 and US$27.1, up 15.9% and 16.8% on year. Same store sales in PRC retail stores were 22.2% and 35.2% respectively.

The group expects demand for its footwear products to remain stable in the first half of 2012, despite the uncertain economic outlook. The group will also continue to optimise its manufacturing operations in China, Vietnam and Indonesia to secure a stable workforce and combat inflationary pressures, as well as to grow production capacity in the medium term.

The group's retail business also continued to perform well during the periods under review, despite experiencing a cyclical slowdown following China's "Golden Week" celebrations and the late start of the winter season in 2011. It has also recently introduced JKJY, the group's new in-house label offering affordable luxury men's footwear, at its 2012 Spring-Summer fashion show. It expects to open its first JKJY store in Beijing at Sanlitun in the first quarter of 2012.


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