Domestic Shoe Brands Suffered Heavy Losses, And Daphne Sales Plunged.

Recently, shoe brands in China are facing difficulties in the retail market.

Daphne footwear (00210.HK) today announced its third quarter operating data, which showed that core brand business was down 13% in the same store. In the first three quarters of this year, core brand store sales fell 12.1%.

The decline in Daphne's same store sales is on the rise. As of the end of June, the same store sales of core brand businesses fell to 11.7%.

The only good news is that the group's electronic commerce maintained sales growth in the third quarter, but the group did not disclose specific data.

International Holdings Limited was established in Hongkong in 1987.

It mainly includes Daphne, shoe cabinet, AEE, dulala, AMEI, ALDO, AEROSOLES, Step higher and other shoe brands.

The group said that the same store sales decline was mainly affected by the overall revenue decline, and the average selling price of core brands fell only slightly during the period, which meant that the number of consumers buying was declining.

In addition, the group continued to integrate sales outlets, closing 307 shops in the third quarter, including closing 284 Direct stores and 23 franchisees, and closing 757 stores since the beginning of this year to the end of September.

By the end of the first half of June, Daphne had lost 164 million yuan from profit to profit, and its profit was 2 million 534 thousand yuan in the same period last year. The turnover in the first half of the year was 3 billion 401 million yuan, down 22.25% compared with the same period last year, and the gross profit was reduced by 29% to 1 billion 884 million yuan.

These years have been dragged down by the weakness of overall retail sales in China.

The impact of this year's shoe brands has fallen into a bottleneck, including BELLE, Daphne, Lies Dan and Nine West.

In 2013, Daphne's market value was over 17 billion, but in just 3 years, its market value shrank to around 1 billion 700 million.

Since June 1st this year, the group's share price has dropped by 25%, and the prospect is indeed worrying.