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Sports Apparel Industry In 2013, The Median Number Is Still "Gloomy."

2013/8/19 11:46:00 31

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Sports Apparel Industry Clothing Industry Sports Brand

August 11th, Lining announced the first half performance in Hongkong stock exchange, and the company continued to lose 184 million yuan last year.

At the same time, on the basis of shutting down more than 1800 outlets last year, the company reduced 410 stores in the first half of this year.

P, a sports apparel analyst in Beijing investment bank, said that the other leading companies in the industry were not affected by the double pressure of inventory and economic slowdown.

Anta's net profit in the first half of the year dropped by nearly 20%, while Nike's first half 2013 earnings showed that China's market income fell by 5% over the same period last year.

"Inventory has not yet been cleared, coupled with the large expansion of various enterprises in the early stage, but just met the consumption weakness under the economic slowdown.

The two factors have seriously hindered the recovery of the industry.

The analyst said.

inventory war /p >

so far, many domestic listed listings of a target= "_blank" href= "http://www.91se91.com/" > dress < /a > have not yet been able to completely get rid of the "weight bearing" of inventory. Recently, the number of Chinese newspapers published in 2013 is still "gloomy."

it is disclosed that Lining achieved 2 billion 906 million yuan in operating income in the first half of this year, down 24.6% compared with the same period last year.

In terms of brand names, the Lining brand declined by 28.4% compared with the same period last year, of which clothing declined 35%, a target= "_blank" href= "http://www.91se91.com/" > shoes < /a > category 22.7%, and the shrinking brands of Kason, Lotto and Z-DO were even less, 40% of the total revenue slipped.

In this case, the red double happiness, which is mainly equipped with equipment, has become the only bright spot in the company's brand series. It has gained 23.4% growth and the proportion of the company's total revenue has increased 5 percentage points to 13%.

in response to selling inventory, Lining announced in 2011 that he spent 300 million yuan on inventory buyback. Then the channel was cleaned up and reorganized vigorously.

It is also from 2011 that the sports clothing enterprises represented by Lining officially entered the "winter of the industry".

Lining revealed that more than 90% of the group dealers in the first half of 2013 participated in the channel revival plan and 400 stores.

As of the first half of this year, the average turnover period of channel inventory dropped from more than 9 months to less than 7 months, and total inventory dropped by more than 30%.

Lining, executive vice chairman of the P group, said: "the goal of the first phase of the reform plan has been successfully completed. Encouraging progress in many business shows that the group has been in a low ebb." Jin Zhenjun said.

Although many of our funds still need time to reflect the effectiveness of the book, we are satisfied with the phased results of the channel recovery plan, and most of the dealers have improved their cash flow and sales capabilities.

I can comfortfully tell you that the most difficult period has passed. "

with the relatively efficient performance of inventory in inventory, Anta officially surpassed Lining in 2012 in terms of turnover and took the first place in its long-standing local sportswear.

Ding Shizhong, chairman of Anta group, pointed out that due to the larger scale of the whole industry, it is more difficult for the industry to recover the fast and high growth in the past, and the current market is relatively mature. The growth of the industry in the future can not be driven by the opening of stores in the past, but by the growth of same store sales.

insiders pointed out that in the operation data of Anta announcements of the group distributors and franchisees, the same store sales growth in the second quarter of 2013 was stable compared with the same period in 2012, based on the Anta retail business which has been operating for more than a year.

It is too early to say whether the signal of Anta's recovery means the overall recovery of the industry. However, it can be basically determined that the industry as a whole has gone into the middle and late stages of inventory, followed by the lack of goods in some enterprises.

Anta's turnover in the first half of this year was 3 billion 367 million yuan, down 14.4% compared to the same period last year, and its profit was 626 million yuan, down 18.7% compared with the same period last year.

In terms of outlets, Anta sports life shop reduced 241 to 7834 from 8075 at the end of 2012, and the number of children's sporting goods stores decreased from 22 to 811.

compared with Lining, Anta is more stable in terms of its operation and financial situation, but Shenyang Wanguo (Hongkong) still gives a "sell" rating.

The agency believes that advertising sales expenses fell by 18.5% in the first half of 2013 due to the decrease in sports sponsorship, but there will be a marked increase in the second half of this year.

Moreover, the fierce competition and the pformation of sales channels have led to a net closed shop in the next two years.

In the next few years, limited revenue growth and rigid growth in operating costs will drag on profit margins.

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demand recoveries /p >

industry insiders say that in the foreseeable future, sportswear enterprises may still have to prepare for the winter. "On the other hand, we need to contract the early expansion of the channel too fast, and we should aim at the marketing mentality of the consumers in the weak economic recovery pattern."

< < a > href= > http://sjfzxm.com/news/index_c.asp > sportswear enterprise < /a > has already announced the four quarter order meeting, also confirms the above view.

The number of orders this winter will drop by 17%.

XTEP said the company's orders would decline from 15% to 17% last year.

Only Anta is in a better position, the order amount will drop by about 5% to 15%, and the order volume of the order will appear in the first quarter of next year.

Anta Sports Products Limited announced the first half of 2013 financial report and 2014 first quarter order meeting data, its earnings exceeded market expectations, 2014 the first quarter of the order meeting data achieved 2012 third quarter since the first positive growth.

"P", Elyse Wang, an international retail analyst at Haitong, said that the dawn is coming. They expect the situation to improve in 2014, but more clues remain to be observed in the second half of the year.

Renee Tai, an analyst at Dahua, said that if there is a turnaround, it will be early next year.

according to the data of Ou Rui International, since 2008, the market share of Anta in China has increased from 5.3% to 5.8%, and it has outperformed Nike, ADI and Lining.

In the past few months, 8 of the 19 analysts have raised Anta's earnings forecasts.

Ding Shizhong, chairman and chief executive officer of Anta P, believes that the industry challenges still exist, but Anta's performance in the first half of the year has satisfied the management, and its performance has also recovered at a faster pace.

it is worth noting that the gross profit margin of Lining shoes and clothing category remains at 44% level, basically unchanged from the same period last year.

The main reason for the company's large losses is that sales revenue has risen to 1 billion 210 million yuan in the case of declining revenue, and its share of business revenue has surged to 41.6%.

market participants believe that this shows that the company is still trying to go all out while shrinking its front line.

On the one hand, Lining continued to "cut" surplus stores in the first half of the year. At present, the number of company outlets has further dropped to 6024; on the other hand, the company has increased investment in key projects such as basketball, including the key construction and promotion of CBA and sponsored NBA star Wade.