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Puma recently released results, the 2012 full year consolidated sales rose by 8.7 percent, slightly lower than the 3.3 billion euros of the total expected. Because clear inventory, gross margin declined Puma to 48.3% from 49.6%, especially footwear falling the most, gross margin declined from 49.1% to 46.5%. during the implementation of cost-cutting plan including the closure of more than 90 unprofitable stores, reduction of about 450 jobs. Puma side said that 2013 will continue to open new stores in profitable position, mainly in emerging markets. Puma expects to open 540 new stores by the end of 2013, compared with 2012 to open 590 new stores throughout the year, has decreased. Meanwhile, the company also cuts affect the profitability of the production line, plans to cut about three percent by the end of 2015. In addition, Puma also suspended a number of non-profit cooperative agreement, withdrew from the European football market, 2013 will cease navigation products, the product will focus on outdoor sports. Francois-Henri Pinault PPR Group President Puma parent company has publicly said that when the Puma back on track, PPR will continue to focus on the establishment of life and leisure Puma brand portfolio. He believes that there are two sports market segments with great potential, an extreme sports, other outdoor activities supplies market. Puma CEO Franz Koch in the release of the earnings report said that the current first target group has not reached the amount of 4 billion euros in revenue, but to improve profitability. However, PPR Group, announced last year, Franz Koch will retire by the end of March 2013. and Adidas, Nike, compared with its competitors (stores), Puma's performance is not satisfactory, the size of the store is not in an order of magnitude, especially in the R & D investment on the new products is far from Nike and Adidas that much. Susquehanna Financial Financial Analysts said that despite the Puma has been trying to do the right thing, but because of the company's internal business over dispersion, resulting in performance decline. "Puma sales bottleneck part of the reason is due to the continued downturn in the European market and the Chinese market challenges due to the increase." In comparison, China's domestic sporting goods business situation worse. Xtep International (01368.HK) side said that in 2012, the company's overall decline in the number of stores. 2013 will also be expected to decrease from 100 to 200 stores in the first half of this year order volume has reduced by 15% to 20%. issued a profit warning just 361 degrees 01361.HK) also said that as of the end of December 2012 the company's annual profits will be down about 40%, mainly due to the Chinese sports apparel industry continued to face a challenging situation, because industry inventory and retail discounts continued at a high pressure level, causing the industry to show continued involvement in the fierce competition, resulting in reduction of overall sales, gross margin pressure, as well as increased cost of sales. 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