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Clothing And Textile: Sales Remain Strong, Brand Price Increases.

2010/10/21 11:38:00 41

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industry

There is a general pullback. We believe that this has little to do with fundamentals, mainly due to the rotation of industries.

stay

economic pition

Against the backdrop of the increasing number of listing targets, we firmly believe that the domestic brand apparel industry is in the golden age of investment.

The recent callback will provide a rare opportunity to buy, the pressure of valuation will be released, the growth will be determined, and the quality of the development prospects can be focused on. The buying time can be controlled according to the timing of the industry rotation.

The overall view of the industry fundamentals in recent years is that sales remain strong and brand price increases are busy.

Since September

Clothing consumption

Gradually showing the characteristics of the peak season, especially during the National Day holiday, increased by 18.7% over the 09 golden week, and gold, silver jewelry, autumn and winter costumes were very popular.

The fourth quarter has entered the peak season of consumption, and the consumption trend is expected to continue, and this winter is likely to appear "extremely cold". It is also a favorable stimulus for winter sales. Under the background of economic pformation, consumer confidence is expected to remain at a good level. Cotton prices have risen sharply at the cost end, and domestic cotton futures prices have seen a substantial increase since August. At present, the price of domestic cotton futures has risen by more than 20% compared with the beginning of August, which has different effects on brands and manufacturing enterprises.

The rise of cotton prices has limited impact on brand clothing enterprises. Most of the market based brands can be pferred through price increases and new product strategies. The price range of autumn winter clothing is generally over 10%, and the discount intensity is also significantly reduced.

For production enterprises, the general profit margin is relatively low, and it is more sensitive to the price changes of raw materials. It is difficult to rely on their own ability to digest the rising pressure of raw material prices, the differentiation of industries will further intensify, and the companies with resources or industrial chain integration will have relatively small impact.

The performance of key companies in the first three quarters is as follows:

An increase of about 30% or more: fuanna, Luo Lai home textiles, Meng Jie home textiles, Mei Bang dress, Lao Fengxiang, Pathfinder, Saturday, Weixing shares.

The sales performance is good, especially for the more precise joining strategy of role home textiles, the growth rate is expected to be around 40%. The United States, by means of connotation mining, ensures that the direct stores will grow rapidly and join the market continuously, especially after the autumn and winter listing, the sales trend is good. The holiday business growth rate will continue to reach more than 50%. The jewelry consumption crisis has maintained a strong growth after the crisis of jewelry consumption, and the retail and wholesale business of laomixiang has been effectively developed; the Pathfinder is mainly due to the high speed growth of the outdoor products industry; on Saturday, the main brand's income has maintained a relatively rapid growth due to improving the single store style and increasing publicity; Weixing shares have benefited from the revival of exports and domestic sales, and the new production capacity, resulting in the rapid growth of revenue. Home textile companies benefit from demand recovery, leading companies to accelerate development and other factors.

The company increased by about 10-20%: seven wolves, good news birds, Lu Tai and Dayang creation.

The terminal demand of the seven wolves has maintained a trend of recovery. Although it is subject to previous orders, the terminal sales trend is good. The terminal sales of the birds are relatively stable, the sales performance is generally on holidays, the orders of Lu Tai are full, and the prices of the orders continue to rise as the early exports warm up.