Ming Le Sports AG Announces Earnings Results for the Nine Months of 2013; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2013; to Open 630 Stores Until the End of 2013
The company provided earnings guidance for the fourth quarter and full year of 2013. For the quarter, the company expects positive business development to continue in the fourth quarter and anticipates a year-on-year revenue growth of 25%, surpassing the EUR 350 million benchmark in 2013. The company has reduced the guidance on the expected net profit margin.
For the full year 2013, the company expects net profit margin between 12% and 14%.
The company plans to add 630 stores including 30 self-owned flagship stores to its existing retail network until the end of 2013.