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
TheStreet Open House

China Xiniya Fashion Limited Announces 2014 Spring/Summer Sales Fair Results

Stocks in this article: XNY

XIAMEN, China, Oct. 29, 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 2014 Spring/Summer Collection showcased during its biannual sales fair held from September 13 through September 16, 2013 in Xiamen, China decreased by approximately 9.8% compared to the total value of purchase orders placed in the fall of 2012.

Xiniya exhibited over 1,000 new products during the week-long sales fair, including apparel, shoes, bags and accessories, to the approximately 1,000 authorized and prospective retailers and 27 distributors to select from based upon each store's location, climate and local consumer taste. Delivery of the orders is expected to take place during the first half of 2013.

The Spring/Summer collection was designed around the common theme of "Look into the Future". The collections vary year-to-year and are never the same as Xiniya's product mix, style and fabrics are constantly shifting. The fabrics used in this year's collection went through rigorous testing in order to ensure colorfastness, sweat resistance, shrinkage, resistance to tears and abrasions, moisture absorption and air permeability. One of the many collections exhibited this year was inspired by the fashion and success of K-Pop across China and the rest of Asia.

"Despite the challenging times for China's retailers, I am proud of the progress we have made following the implementation of the long-term initiatives we have been working diligently on," commented Mr. Qiming Xu, Xiniya's Chairman and Chief Executive Officer. "We encouraged our authorized retailers to remain cautious and conservative when placing their orders this year to ensure their long-term profitability and sustainability. Unlike previous sales fairs over the past two years, we maintained our recommended retail price levels as we believe the support we are providing our distributors to overcome the short-term difficulties have already taken hold and have given them the momentum needed to move forward confidently. Our retail network is vital to our long-term success, and Xiniya's support through initiatives such as extending credit terms, increasing sales rebates, subsidizing shop racks and providing training to sales staff, will aid in enhancing our brand equity and put both our retail network and the Company on a solid footing once the industry begins to turnaround. We have maintained our flexibility and are confident that our balance sheet, strong cash position, and strategy to expand our retail network and increase brand recognition have adequately prepared us for the future." 

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs