Retailing, Franchising, and Consumerism Business Intelligence in China

HLA Net Profit Down 50.69% In First Three Quarters Of 2020

Chinese clothing brand HLA recently released its report for the third quarter of 2020.

During the first three quarters of 2020, HLA achieved operating revenue of CNY11.778 billion, a year-on-year decrease of 19.82%; its net profit was CNY1.29 billion, a year-on-year decrease of 50.69%.

For channels, HLA's online channel achieved operating revenue of CNY1.326 billion, accounting for 11.59% of its total operating revenue; while its offline sales were CNY10.119 billion, accounting for 88.41%.

According to relevant statistics, the consumption saw a strong revival during the National Day holiday week, and it is expected that the brand's offline sales will increase by over 40% year-on-year and its online sales will be doubled. For the entire third quarter, HLA's overall sales scale has equaled that of the third quarter last year, and the impact of COVID-19 has been gradually absorbed.

On October 20, HLA announced to choose Jay Chou to be its new brand representative, attracting great attentions.

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