Li Ning announced its third-quarter sales performance on October 22, revealing a mid-single-digit decline (4% to 6%) in retail sales for the Li Ning brand (excluding Li Ning Young) compared to the previous year. Offline channels, including retail and wholesale, showed weak results, with retail sales down by a high-single-digit percentage (7% to 9%). Directly operated retail channels also faced mid-single-digit declines, while wholesale channels managed by authorized dealers experienced a more significant drop. In contrast, e-commerce sales grew by a mid-single-digit percentage, providing a positive highlight amid a challenging retail market environment.