Toread, China's leading local outdoor brand, has just released its financial report for the first three quarters in 2012. Turnover during that period was 624 million yuan renminbi (€76.4m-$99.2m), 45.3 percent higher than last year. Sales increased by 25.4 percent to RMB 244 million (€29.9m-$38.8m) in the third quarter ended Sept. 30 compared with the three months one year ago. In the three months through September, Toread added 126 new stores, lifting the total number of single-brand stores to 1,352 across China. The plan is to have 400 more doors during the current year with a focus on second- and third-tier cities, where the domestic brand sees advantages in terms of market penetration compared with foreign players.