8 Clothing Companies Listed Quarterly Observation: Closing More Than Opening

The reporter compared the 8 listed companies of the clothing sector and found that only 3 achieved a double increase in revenues and profits.

In addition, many companies still have a closed shop phenomenon.

Chen Ke, Roland Begg's global partner and vice president of Greater China, said in an interview with reporters that the overall garment industry is hard to maintain its growth trend of about 13% in the first 5 years of 2013, due to the macroeconomic impact of China's slowing economic growth and consumer confidence. It is estimated that the growth rate of 8% will not grow for 5 years.

Performance decline or slow increase into a universal phenomenon

In addition to the "noble bird", reporters yesterday compared YOUNGOR, Semir, seven wolves, nine Mu Wang, red beans, good news birds, Meyer 8 clothing listed companies.

Among them, only the three enterprises of "noble bird", "Semir" and "nine herd king" have achieved double growth in operating income and profit, while the net profit of the nine herd kings has increased, but the increase is only around 0 .4%.

Overall, a number of enterprises appear to have a slight decline in operating income.

Limited by Share Ltd reported first quarter operating income of 475 million, down 18.41%% compared with the same period last year, net profit of about 9 million 500 thousand, down 86 .16%% compared with the same period last year.

The first quarter revenue of Meyer was 130 million yuan, down 6.98% from the same period, and 4 million 470 thousand in the current period.

In the first quarter, the seven wolves realized revenue of 700 million yuan, up 11 .05% compared with the same period last year, but net profit was only more than 6 thousand yuan, up 5.18% from the same period last year.

YOUNGOR achieved the highest operating income of 5 billion 560 million yuan in the first quarter, but it was 11.41% lower than the same period last year.

However, net profit increased by 76.30% over the same period to 2 billion 447 million.

It should be noted that the company's main reason for the rise in net profit is that the real estate sector benefited from policy support and the difference in the carry over projects made the average gross profit margin of the settlement real estate projects substantially higher than that of the same period last year. The net profit realized here is as high as 1 billion 50 million yuan.

Similarly, the red bean industrial Limited by Share Ltd has a similar operating income of 490 million, a year-on-year decrease of 15.35%% and a net profit of 28 million, an increase of 110.95% over the same period last year.

However, the company said that the net profit of the company during the reporting period increased year by year. Besides the 9 million 50 thousand net profit brought by the new store, its subsidiary Wuxi red bean Real Estate Co., Ltd. also received a net profit of 15 million yuan from the liquidated damages.

Although some enterprises did not see a decline in revenues or profits, the rate of increase did not even reach 1 percentage points.

Limited by Share Ltd business income 520 million, an increase of 0.37% over the same period.

Nine Mu Wang Limited by Share Ltd net profit 130 million, an increase of 0.4% over the same period.

Operating income and net profit increased significantly for Semir clothing (11.41, 0.13, 1.15%) Limited by Share Ltd, its first quarter revenue reached 1 billion 900 million yuan, an increase of 16.15% over the same period, attributable to shareholders of listed companies net profit 240 million, an increase of 24.53% over the same period.

Increasing operating costs and closing stores are common.

Compared with various financial reports, reporters found that increasing operating costs has become an inevitable problem for garment enterprises.

Such as the bird of honor, its banner

Operating income increased by 3.09%, but operating costs increased by 4.2% compared to the same period, and gross margin decreased by 0.55%. The operating income of the footwear industry decreased by 0 .5% compared with the same period last year, operating costs increased by 7.7%, gross margin decreased by 4.77%, accessories business income decreased by 39.42%, operating costs decreased 38.63%, and gross margins decreased by 0.86%.

Red bean's H odo men's clothing increased by 32.83%, but its operating cost increased by 34.41%, and its gross profit margin dropped by 0.87%.

The business revenue of Meyer direct store increased by 3.70%, but its operating cost increased by 12.36%, and gross profit margin dropped by 3.91%.

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Clothing enterprises can not be ignored.

There are 71 new retail outlets in 2016, closing 148 retail terminals.

As of the end of the reporting period, YOUNGOR's sales outlets decreased by 35 compared with the beginning of the year.

Meyer brand joined franchise stores to close 2 stores.

There are 12 new stores in the nine branches, but 23 are closed, 28 new stores are open, but 44 are closed.

Brand bonus growth mode is difficult to continue

Xiong Xiaokun, a light industry researcher at CIC, told reporters that clothing revenue generally declined, mainly due to reduced demand.

In addition, under the pressure of inventory, enterprises have to sell the revolving funds at a reduced price, making the market price war frequent.

The situation is even more grim. "

In an interview with reporters, Chen Ke said that Chinese clothing enterprises used to rely mainly on the development mode of "brand plus distributors to open stores quickly".

"In the face of factors such as the increase in opening stores and labor costs, the decline of traditional department stores and the lack of fine operational capacity of dealers, the traditional growth mode relying on brand dividends is hard to support the demand for rapid growth in the future.

On the other hand, along with the structural change of consumer groups, consumers' purchasing behavior tends to be rational, and the factors such as offshore purchase, clothing sale website and designer brand emerge, so that consumers have more clothing purchasing channels than in the past.

However, he said that the gross profit margin of the apparel industry has not declined, and the net profit of the industry has declined. Different types of enterprises have different reasons.

For domestic enterprises, offline and online channel competition and lack of product innovation seriously affect the product's positive price sales, while export enterprises, the competitiveness of export products brought about by the appreciation of the renminbi is also one of the factors leading to a decline in revenue.

As a result of rapid expansion, a number of "inefficient shops" were created, coupled with insufficient innovation in products and modes, which led garment enterprises to decide to close some stores.

Chen Ke said that after going through the painful inventory of past years, clothing enterprises realized that improving store efficiency is the way of future development.

Xiong Xiaokun, a light industry researcher at CIC, also said that the closing of stores in recent years is very common, especially in this year.

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"In addition to demand and cost factors, the domestic demand has been greatly shifted to the Internet business platform due to the impact of the electricity supplier, resulting in offline retail sales."