Posted: July 15, 2021
Hong Kong-headquartered Stella International Holdings Limited, a leading manufacturer and retailer of quality footwear and leather goods, on July 15 announced its unaudited second quarter activity update for the three months and six months ending June 30, 2021.
Sales and revenues increased for the quarter ended June 30 and increased 36.1% to US $ 695.5 million (2020: US $ 511.2 million) for the six-month period ended June 30 compared to at the corresponding periods of last year. This is mainly explained by a weak base in the first half of 2020, strongly impacted by the Covid-19 pandemic, as well as a resumption of orders in 2021.
Shipment volumes in the three months and six months to June 30 increased by approximately 54.3% and 29.9% year over year, which is also attributable to a weak base in 2020 .
Looking ahead, Stella International says it remains cautiously optimistic about orders in the second half of the year, as the pace of recovery in volumes and revenues is likely to moderate due to a higher base in the second half of the year. 2020. Year-over-year comparison of quarterly shipping volumes for the rest of the year will also remain uneven due to the significant impact of the pandemic on the normal seasonality of shipping volume and the product line in 2020. Although visibility for the fourth quarter is increasingly certain, it remains dependent on the evolution of the pandemic and the progress of vaccination programs around the world.
Going forward, the company plans to prioritize improving margins, as well as steady volume growth on a year-over-year basis by capitalizing on promising opportunities in the sports and luxury product categories.