Chinese sports brand Li Ning Co Ltd on Friday said it expects to post its third straight full-year loss Elvis Andrus Jersey , as it grapples with a restructuring, bloated inventories and slowing demand following the 2008 Olympics.
Li Ning, which is backed by private equity powerhouse TPG Capital and Singapore wealth fund GIC, forecast a net loss of up to 820 million yuan (88 million pounds) for 2014 due in part to costs related to its transformation plans.
Li Ning said the financial performance for the second half of last year was expected to improve from a net loss of 585.8 million yuan in the first half. Same-store-sales growth turned positive during the July-December period, it added.
Shares of the $600 million company fell about two percent by lunch Ferguson Jenkins Jersey , reversing earlier gains fuelled by hopes the company was turning a corner. The benchmark Hang Seng Index was 1.03 percent higher.
"Investors are glad to hear about the improvement after all this years of transformation," said Steven Leung, a sales director at UOB Kay Hian. "But people are still cautious on the effectiveness of the plans, and prefer to wait and see."
Li Ning, which teamed up with U.S. basketball star Dwayne Wade in 2013 to launch sneakers Cole Hamels Jersey , has undergone a transformation aiming to trim inventory and rebuild its brand to deal with intensifying competition from the likes of ANTA Sports Products Ltd and Nike Inc.
The company is due to announce its full-year earnings in March.
"As the group enters its next phase of development, it is seeing positive and healthy growth in revenue," former Olympic gold medallist and executive chairman Li Ning said in a filing to the Hong Kong bourse.
The company saw its revenue grow 20 percent year-on-year from July to November last year, higher than the 8 percent growth in the first half.
In August, it said that with the "first phase" of a turnaround plan completed Adrian Beltre Jersey , it planned to focus on boosting its brand image.
UBS said in a report on Thursday that while it expected Li Ning to post a loss for 2014, it forecast the company to report a profit this year thanks to the growing spending power of China's middle class.
Li Ning said in December that it planned to raise up to HK$1.69 billion (144 million pounds) in an open offer of shares to support its next stage of growth.
Friday's profit warning came more than a month after Jin-Goon Kim stepped down as interim chief executive officer to tend to other responsibilities as a partner of TPG.
Health > Health CareWhat are the advantages of senior home services? You聮ll be surprised
Posted by universalpositions in Health on December 2nd, 2015
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For a good example of a top-of-the-line home-care service provider, check out Better Living Senior Services. This is a well-known full spectrum home care services company inTampa Cheap Rangers Hats , Florida. The what you could call a market leader in senior health care services in Tampa, providing in-home care services in the Tampa region and surrounds.They are basically a local onestop shop, providing customized care packages and services on a needs basis.
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