The Risk Of Department Store Pformation Mall Still Exists

Last Friday, Li Kuansen, one of the Shenzhen department store giants, officially announced the resignation of P as executive director and chief executive officer of the Department. The position was replaced by Yang Tiwei, the founder of Yang Xiangbo, the founder of the department store, and this is the second time in 00312 months that he has changed his mind in the next 9 months.

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< p > behind the frequent personnel changes is the dismal performance of the year old treasure.

Since its first loss in the first half of 2012, the loss has increased from 13 million 839 thousand yuan in the same period in 2012 to 76 million 559 thousand yuan today, and its net profit has fallen by more than 453% over the same period.

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< p > in fact, the year old department store is only a microcosm of the downturn in the department store industry. From the statistics obtained, as of September 4th, 43 Chinese general merchandise companies listed in the first half of the year's performance report, 20 enterprises showed a decline in profit growth, accounting for about 50% of the total, with an average decrease of about 16%.

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< p > Yang's re in charge of the old treasure store "/p".

< p > annual treasure store semi annual report shows that sales in the first half of 2013 amounted to 1 billion 130 million yuan, operating income of 690 million yuan, a year-on-year increase of about 1.5%, but net profit losses are still expanding, reaching 76 million 559 thousand yuan.

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< p > the management explained that the loss in the first half of the year was mainly due to the opening loss of new 5 department stores during the end of last year to the first quarter of this year. In addition, the continuous increase in operating leases, administrative expenses and staff costs also affected the overall profit.

For successive losses, management said that strategic expansion spending resulted in performance losses, and will carefully review the future development of the company.

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< p > September 6th, when 10 years after the announcement of the mid year results, the year old treasure store announced the news of Li Kuansen's departure, which is another change in the company's top level within 9 months.

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< p > announcement that Li Kuansen resigned from the group executive director and chief executive for health reasons, and Yang Tiwei, the successor, is the son of a href= "http://www.91se91.com/news/index_c.asp", "old treasure" /a, the founder Yang Xiangbo of the department store, and has worked in the group for more than 4 years.

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< p > data show that Li Kuansen has more than 17 years of experience in the retail department, and has served in WAL-MART China for more than 8 years since 1996. He joined the Limited by Share Ltd in 2004 and became the general manager of the company's business department in 7 years.

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< p > < strong > < a > href= > http://www.91se91.com/news/index_c.asp > > department store < /a > the risk of pition shopping center is still < /strong > /p >

It is hardly a case that the days of the P department store are getting harder and harder. In addition to the loss of the year old treasure store, Maui International (00848, HK) lost 14.9% of its net profit in the first half of this year. The Tianhong Mall (002419, SZ) rose 0.47 percentage points to 17.2% due to the expense rate, resulting in a net profit growth below the income growth.

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At the same time, the situation faced by foreign-funded department stores is also grim. Many foreign department stores, including Pacific department stores and P, are ushering in a wave of closing stores.

Public information shows that the Pacific department store's Beijing Ying Ke Dian, Beijing Wukesong shop, Wuxi store and Wuhan store have been closed or evacuated because of the expiration of the lease and rents.

At the same time, Japan's enterprises are also exposed in Shanghai, Ji'nan and Shenyang.

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< p > China Chain Store Association survey shows that in recent years, the average rental cost of chain enterprises has increased by about 30%, while the average labor cost has increased by 15%. The cost growth rate is far greater than the rate of gross margin growth.

This has become the main reason for the decline in the profit margin of the industry.

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< p > industry analysis, with the increasing demand for high-end consumption and experiential consumption, the traditional form of single department stores has been unable to meet the current consumer groups.

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At present, a number of traditional department stores including Hai Ya department store, Mao Ye international, year Bao Department store and Tianhong shopping mall have gradually tested the shopping center in P.

Huatai Securities analyst Geng said that the road of pformation of supermarkets and department stores to a href= "http://www.91se91.com/news/index_c.asp" > shopping center < /a > was not smooth. It was reported that the acclimatization of the Tesco complex and the business of Tianhong shopping center were light, believing that they would not be the only case.

Geng believes that with the increasing supply of complex in the future, the lack of innovative projects in operation will also become chicken ribs.

It doesn't matter who is the main body of the shopping mall. Supermarkets, department stores, commercial real estate developers, big consortia and so on all can, and the key is the competition in operation.

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