• <abbr id="ck0wi"><source id="ck0wi"></source></abbr>
    <li id="ck0wi"></li>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li><button id="ck0wi"><input id="ck0wi"></input></button>
  • <abbr id="ck0wi"></abbr>
  • <li id="ck0wi"><dl id="ck0wi"></dl></li>
  • Home >

    Brand Shoes Accelerate Channel Expansion On Saturday

    2010/6/22 18:28:00 44

    Brand Shoes Saturday

    Take the brand at the core of the Saturday as the core, implement the multi brand strategy. As the manufacturer and retailer of women's shoes, the company currently owns six private brands, such as "ST&SAT" (Saturday), "FONDBERYL" (Febe Lil), "SAFIYA" (Sophia), "MOOFFY", "RIZZO" and "69", as well as two agents of "Baldinini" and "Killah". Among them, "Saturday" is the main brand of the company, accounting for more than 60% of the company's revenue and gross profit. "Sophia" and "Febe Lil" account for 17% and 10% of the company's revenue and gross profit respectively.


    The development prospect of medium and high grade brand shoes is broad.

    With the improvement of fashion awareness and consumption ability of urban white-collar women, the demand for brand women's shoes is also rising significantly.

    It is predicted that the future women's shoes market, especially the high-end brand and fashion women's shoes market, will have broad room for development.

    In addition, from the market concentration of women's shoes industry, it is still in a relatively dispersed stage, but signs of integration have gradually emerged, and the market share of the ten major women's shoes brands is expanding.


    Channel expansion speed up, will soon enter a period of rapid growth.

    The development of department stores and listing financing provide favorable opportunities and financial guarantee for company's channel expansion.

    The company plans to open 300 stores and more than 500 new stores in 2010 and 2011 respectively, that is to say, by the end of 2011, the number of self operated stores will be nearly doubled in 09 years.


    Internal management needs to be further improved.

    At present, the company has certain advantages in management and management, mainly in the vertically integrated business mode, the Trinity research and development system, and the rapid reaction management mechanism.

    However, compared with the industry leader BELLE international, the inventory control, logistics and information system construction and bargaining power of upstream suppliers remain to be further improved.


    Short term cost pressure is greater.

    Due to the rapid expansion of the company's channel, it is expected that the short term cost pressure is larger.

    It comes mainly from the increase in wages and benefits, advertising expenses and other expenses of salesmen.

    In addition, the corporate income tax has been expired and the tax rate has increased from 12.5% to 25%, and the corresponding increase in income tax is about 25 million this year.


    Investment suggestion: from the sales situation of the first quarter of the company, the revenue increased by 31.31%, mainly from the endogenous growth brought by the increase of single store sales.

    Annual revenue growth is expected to be around 30%-40%.

    Considering that the short-term cost pressure is bigger, this year's performance growth will be lower than the income growth rate, but from the 11 year, it is expected to enter the fast lane of growth.

    It is estimated that the EPS in the 10-11 year is 0.47 yuan and 0.65 yuan respectively, corresponding to 31 times and 22 times PE.

    From the PE point of view, the short-term valuation level is basically reasonable and is temporarily given "overweight" rating.

    From the perspective of market value, the company still has a big gap compared with BELLE international and Daphne and other footwear companies. Of course, this is related to the company's current size and growth stage, but at the same time, it also reflects that the company has great room for growth in the future. Therefore, it is recommended to pay attention to it for a long time.


     

    • Related reading

    RMB Appreciation Benefited Shares Ignored

    equity china
    |
    2010/6/22 16:11:00
    51

    Hebei'S Textile And Clothing Investment Has Increased Steadily.

    equity china
    |
    2010/6/22 16:03:00
    32

    China'S Sports Footwear Industry Has A Bright Future.

    equity china
    |
    2010/6/21 15:00:00
    61

    Jinjiang Haidong New Material Hongkong Main Board Listing Today

    equity china
    |
    2010/6/21 14:55:00
    67

    The Modern Textile Numerical Control Dyeing And Finishing Equipment Project Has Achieved Great Success.

    equity china
    |
    2010/6/21 14:14:00
    29
    Read the next article

    Exchange Rate Reform Boosts Shoe And Garment Enterprises' Industrial Upgrading

    In June 19th, the people's Bank of China announced that it would further promote the reform of the RMB exchange rate formation mechanism and enhance the RMB exchange rate flexibility; in June 20th, the central bank official website published the "answering reporters' questions", emphasizing that the exchange rate reform aims to steadily improve the exchange rate formation mechanism, and "the exchange rate of the RMB exchange rate is not adjusted once and for all."

    主站蜘蛛池模板: 日韩午夜激情视频| 91九色精品国产免费| 亚洲精品国产国语| 欧美日韩国产乱了伦| 国产美女精品视频| 亚洲美女激情视频| 中文字幕视频网| 免费在线你懂的| 欧美色欧美亚洲高清在线视频| 无码人妻丰满熟妇区毛片| 国产精品福利久久香蕉中文| 亚洲最大成人网色| japanese性暴力| 美女一区二区三区| 日本欧美大码aⅴ在线播放| 国产国产人精品视频69| 久久五月精品中文字幕| 蕾丝视频在线看片国产| 最近日本字幕免费高清| 国产在线爱做人成小视频| 久久久久人妻一区精品色| 丰满大白屁股ass| 日本无遮挡h肉动漫在线观看下载| 国产中文制服丝袜另类| 一级做a爰全过程免费视频| 男女一区二区三区免费| 国外欧美一区另类中文字幕| 伊人激情久久综合中文字幕| 一级看片免费视频囗交| 美女视频黄视大全视频免费的| 巨肉超污巨黄h文小短文| 国产99久久精品一区二区| 久久午夜无码鲁丝片午夜精品| 亚洲精品老司机| 日本乱妇bbwbbw| 免费看大美女大黄大色| 91普通话国产对白在线| 欧美精品国产一区二区| 国语自产少妇精品视频| 亚洲自偷精品视频自拍| 青青草原国产视频|