Xtep profits, rev grow 26% as unit sales, ASP climb

Sportswear maker and distributor Xtep International (1368.HK) made RMB 814 million in net income in 2010, up 26% y-o-y, as revenue grew 26% y-o-y to RMB 4.46 billion, the company reported March 21. Sales of footwear products over the year grew 16.7% y-o-y to 22.3 million pairs with a 5.4% increase in average selling price, while apparel sales in the year rose 16.4% y-o-y to 33.3 million pieces, with a gain in ASP of 10% against the previous year.

The company increased the number of stores by 15% in the year to 7,031 by the end of the year, the report said.