BELLE Opened 2010 Stores In The First Half Of The Year, An Increase Of 13.3% Over The Same Period Last Year.

　　 Belle International (14.98, -0.16, -1.06%, economic and real time quotes) the group is mainly engaged in manufacturing, agency and retail sales of shoes and related products. Its business can be roughly divided into footwear business and sportswear business. As China's largest footwear retailer, BELLE has a high brand awareness among Chinese customers. With the support of the economic growth momentum, the company's operating profit increased by 44.5% to 1 billion 828 million 400 thousand yuan in the first half of 10 years. However, considering the high base in the second half of last year, the group's sales growth in the second half of this year is not expected to remain at a high level.

　　 Gross profit margin In the first half of 10 years, net profit increased by 37% over the same period. Due to the average price and product mix In the first half of 10 years, BELLE's total revenue increased by 19.8% over the first half of the year, reaching 1 billion 525 million yuan, of which gross margin increased by 3.2 percentage points, accounting for 55.6%.

The total number of stores is expected to exceed 13000 in 2013. In the first half of 2010, the company increased 703 new stores, representing an increase of 13.3% over the previous year, and the total number of stores reached 10315. Management said that in the next three years, the retail network will expand at an annual rate of about 10%. It is estimated that the total number of stores will exceed 13000 in 2013.

The existing brand has become the main source of income for the footwear industry, and the newly acquired brand has strong growth momentum. The income of BELLE footwear industry accounted for 59.4% and 60.3% respectively in the 09 years and the first half of 10 years. In the first half of 10 years, the brand growth of newly acquired brands was stronger than that of the existing brands, especially the growth of the brand and its growth rate.

Front-line brand sportswear is growing fast. In the first half of 10 years, sportswear division contributed 39.7% of total revenue, down from 42.9% in the same period last year. The main form of new shops is first-line brand stores, such as Nike and Adidas, which are more profitable. Due to the increasingly fierce competition, we believe that in the next few years, the growth of sportswear sales in the same store may be maintained at a lower number of units.

In the future, the average price of products will increase according to the number of units in China. The company's footwear sales grew by 18%, while sportswear sales increased by 4%. At the same time, the same store sales growth in the first half of the year was higher than expected, and the annual growth of same store sales increased from 10% to 15%. Management said that the average price of products will range from 400 yuan to 500 yuan this year. The company's goal is to increase the number of products per unit in the coming years.