By  on March 21, 2013

HONG KONG — Li & Fung Ltd., the Hong Kong-based sourcing and distribution giant, reported 2012 net income fell by 9.4 percent to $617 million, mainly because of greater-than-expected costs related to the restructuring of the company’s LF USA business.

The company also warned that it wouldn’t make its three-year plan. In 2010, the company had targeted $1.5 billion in operating profit in 2013.

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