Chinese sportswear brand Xtep recently published an announcement, revealing its current operating status.
The company pointed out that its supply chain and manufacturing were facing difficulties due to the delayed return to work of factories, offices and stores in mainland China. At the same time, its agent orders and replenishment orders were impacted inevitably.
The coronavirus outbreak will have negative impact on the group's financial performance in the first half of 2020, but it is hard to predict to what extent. However, the group is actively transferring its sales to e-commerce platform and implementing various cost control measures to lower the impact.
In regards to offline retail stores, owned factories and offices, Xtep started partial operation from February 10, 2020. They plan to realize full operation recovery by the end of February, except for retail stores in Hubei Province.