This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China Xiniya Fashion Limited Announces 2013 Fall/Winter Sales Fair Results

XIAMEN, China, June 3, 2013 /PRNewswire/ -- China Xiniya Fashion Limited ("Xiniya" or the "Company" NYSE: XNY), a leading provider of men's business casual apparel in China, today announced that the total value of purchase orders for its 2013 Fall and Winter Collection showcased during its biannual sales fair held on April 15, 2013 in Xiamen, China decreased by 5.5% compared to the total value of purchase orders placed last spring.

Xiniya exhibited over 2,000 new products during the week-long sales fair, including apparel, shoes, bags and accessories, for distributors and authorized retailers to select from based on each store's location, climate and local consumer taste. Delivery of the orders is expected to take place during the second half of 2013.

While the Company's total order value decreased as compared to last year, the total order volume increased by 8.8%. In its continuing effort to ensure the long-term, sustainable development of its authorized retail outlets, Xiniya reduced the recommended retail price on its 2013 Fall and Winter Collection by an average of 2.3% to improve the price competiveness of its products. As a result, the Company's gross margin will be negatively impacted by approximately 2.3%. This move is expected to improve product turnover for authorized retail outlets and reduce both existing and new inventories in the authorized retail channels.

"I am pleased to see the initiatives we put in place last year begin to show some positive impact as the total order volume increased 8.8% as compared with last year," stated Mr. Qiming Xu, Xiniya's Chairman and Chief Executive Officer. "The increase in volume reflects the support we are providing to our distributors to overcome the short-term difficulties posed by the challenging economic environment in China, such as increasing sales rebates and extending their credit period. We offer a compelling new collection which I believe will help promote our design concept of business travel apparel that is suitable for all occasions and will attract new customers. With the menswear industry in China continuing to show strong growth potential, we are confident that our strategy to expand our retail network and increase brand recognition will continue to sustain long-term positive sales performance."  

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs