PEAK Sports Earned More Than 600 Million Wins Last Year.
PEAK sports (01968) announced its first performance after the listing, net profit increased by 67.1% to 628 million 300 thousand yuan (RMB, the same below), slightly ahead of the profit forecast, and sent the final interest 12 Hong Kong cents.
Chief executive Xu Zhihua said that the growth in the period's performance was mainly due to the rise in gross margin.
Clothing unit price increase gross margin increase
The unit price of clothing products benefited from PEAK increased, and the consolidated gross profit margin increased from 32.7% to 37.5%. However, the average unit selling price of footwear products decreased by 3.5 yuan over the past 09 years, Xu Zhihua said, mainly due to increased sales of low priced products such as casual shoes and retro shoes during the period.
Asked about the increase in the number of sports stocks listed in Hongkong, but the product categories of all sports stocks are identical, and when PEAK has different positioning, Xu Zhihua said PEAK will play a key role in the market positioning of basketball related products in the future. During the period, the company's same store sales increased by 20% annually. Xu Zhihua said that the area opened this year will be 70 square meters or larger.
He said the company expects to spend about 100 million yuan on capacity expansion this year. This year, the target will add 1000 new stores and 100 to 150 special stores for basketball products. As of the end of 2009, PEAK retail outlets were 6206, mainly located in three line cities.
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