American Apparel Enhances Incentive Conditions Or Suggests Developing Franchisees.

Nearly half a year later,

According to the disclosure of the latest equity incentive plan, Smith Barney will award up to 5 million 900 thousand shares to the incentive target, accounting for 0.587% of the total capital stock, of which 5 million 325 thousand are awarded for the first time, accounting for 0.530% of the total capital stock, and 575 thousand reserved, accounting for 9.75% of the total number of stock options granted, accounting for 0.057% of the total share capital.

It is noteworthy that the company will shorten the first 4 years of the exercise period, the 3 3 years of the exercise period, the 2 2 years of the exercise period, and the 1 1 years of the fourth exercise period, all of which will be reduced to 1 years.

In addition to the directors and executives, the other 193 persons will be reduced to 187.

This means that 6 people will not participate in the equity incentive.

In addition, the number of shares granted to other core technicians was adjusted from 3 million 885 thousand to 3 million 525 thousand.

In addition to changes in the above factors, the exercise conditions have also been adjusted.

The United States will unveiled the first performance appraisal goal in April, which is not less than 12% of the net asset yield in 2010, but not less than 20%. At the same time, the net asset yield of ~2013 in 2011 will be changed to no less than 20.5%, 21% and 21.5% respectively.

What's interesting is that in 2009, the United States and costumes were clean.

What may be hidden behind the improvement of American state dress?

Last night, a veteran clothing dealer said that there might be two purposes for improving the exercise conditions of American state dress: first, giving good profits to boost the stock price. Secondly, raising the net asset yield rate is likely to suggest that the future increase of franchise channels.

It is possible that the net asset yield can be increased very quickly by reducing direct business and increasing franchise.

This is a good thing for this company with higher marketing cost.

Statistics show that in the first half of this year, the net profit of Smith Barney clothing was 40 million 336 thousand yuan, down 83% from the same period last year.

During the period, gross margin was 42.76%, down from 44.52% at the end of last year.

The three cost growth rate rose from 45.69% at the end of last year to 50.48%.