During the economic downturn in China, stores for sporting goods with brand names faced their second round of closures in two years. In 2013, six well-known brand name sporting goods closed over 3,000 of their stores; inventories reached 3.1 billion yuan in 2013.
In 2013, Lining, Anta, Peak, 361 Degrees, China Dongxiang, and Xtep closed over 3,000 stores. 361 Degrees was hit the hardest with 783 closures. Xtep shut down 150 stores and was the least affected brand. Back in 2012, during the first round of closures, Lining and Peak alone closed over 1,000 stores.
The inventory for all six brands remained high, hitting 3.1 billion yuan in 2013: Lining (942 million), Anta (689 million), Peak (366 million), 361 Degrees (409 million), China Dongxiang (183 million) and Xtep (537 million).
Sources:
Sina.com, April 8, 2014
http://finance.sina.com.cn/stock/hkstock/marketalerts/20140408/145518734884.shtml
Tencent, April 8, 2014
http://finance.qq.com/a/20140408/014472.htm