Kappa Parent China Trend Announces COO Qin Dazhong Leaving Office

Kappa's parent company China announced that it will be the chief operating officer, executive director and executive committee member of the company.

Chen Chen, the chairwoman and chief executive of Chen Yihong, was appointed as executive director and executive committee member of the company.

As a member of the domestic sports brand listing group, China's trend is "not doing business" and away from the mainstream sports brand industry.

As of June 30th, China's trend income was 465 million yuan, down 17.4% from the same period last year, and its net profit attributable to equity holders was 96 million yuan, an increase of 4.3% over the same period last year.

Kappa has 1084 stores in the country, compared with 1398 in the same period last year, a decrease of 22.5%.

The company's investment in Yunfeng fund is far higher than that of its main business.

In September 2011, through investment

Indirect holding Alibaba 0.31%

At that time, the value of US $100 million (at historical exchange rate of about 638 million yuan) was 2 billion 448 million yuan after listing in Alibaba.

At the end of last month, the report said that the target price of China increased (03818.HK) from HK $1.96 to HK $2.19, mainly due to its holding of Alibaba shares.

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Apparel retailer Guess failed to meet market expectations in the three quarter, and the group lowered its annual target again.

In the three quarter ended November 2nd, Guess revenue fell by 3.9%, from $613 million 500 thousand last year to $589 million 900 thousand, less than $595 million 300 thousand in the market forecast.

Among them, the group's largest market, North America's retail sales fell by 4.2% to 243 million 200 thousand US dollars a year, and the same store sales fell 5%.

Sales in Europe and Asia fell by 5.5% and 2% to 189 million 900 thousand US dollars and 71 million 300 thousand US dollars respectively.

North America is also the only group of five major business sectors with a business deficit, with a loss of US $10 million 500 thousand, while European, Asian and authorized business profits decrease compared to the same period last year.

Net profit in the three quarter was US $20 million 800 thousand, a decrease of 38.9% over the same period last year of 34 million, a smaller reduction than expected in the market.

Diluted earnings per share declined from $0.40 to $0.24, far exceeding the market forecast of $0.18.

Operating profit decreased by 50.1% to 24 million 900 thousand US dollars compared with the same period last year, and the operating profit rate dropped by 390 basis points to 4.2%, compared to 8.1% last year, mainly due to higher stores' impairment expenses, declining sales in North America and Europe, and increased sales in North America.

Gross margin declined from 37.2% in the same period last year to 36.3%, a decline of 90 basis points.

Guess expects the current fourth quarter earnings per share will be in the range of 0.53-0.63 dollars, with revenue of 6.95-7.10 billion, and the two data are all worse than the market expected US $0.69 and US $747 million 100 thousand.

The group also reduced the annual earnings per share from the previous US $1.05-1.20 to US $1.00-1.10. The annual revenue is expected to be reduced from US $24.4-24.8 to US $100 million. The market expects the above two data to be US $1.10 and US $2 billion 470 million respectively. 1.05-1.20

Guess closed $22.17 on Wednesday, up 1.28%, and further increased 0.63% to $22.31 after the stock market, which has fallen by about 29% since 2014.