Roley'S Home Textiles Performance Suddenly Changed, "Disaster" The Share Price

11 days, Luo Lai

[62.10 -1.71%] abrupt performance changes the company's share price to a limit and spreads to the same company's share price.

Although the performance of the first half of the home textiles in the first half of the year has changed from pre growth to pre decline, the main reason is that the cost growth has been dragged down. There are some special situations, and other home textile companies are not worried about their performance. However, in the background of the weak market demand and the pformation of enterprises, the announcement of Luo Lai home textile undoubtedly leads to a reflection on the development mode of "horse race enclosure" in the home textile industry.

Counter trend expansion, bearing costs heavy pressure

On the 11 day, the revised notice of home improvement was changed from a net profit growth of 30% in the first half of April 23rd to 30% over the same period.

Affected by this impact, Luo Lai home textile yesterday opened limit, and closed at a price limit of 64.70 yuan.

Such a change of face has also surprised some "psychological preparation" organizations. "Previously, it was estimated that the decline in the first half of the year's performance was less than 10%, so the magnitude within 30% was indeed unexpected."

A textile and garment industry analyst told reporters.

In the announcement of the revision of the performance notice, although Luo Lai home textile has mentioned the influence of the macroeconomic environment, it is still attributed to the large increase in the cost of the company.

Reporters interviewed Roley's home textiles insider yesterday.

"The main reason for the increase in profits in the first half is the company's marketing strategy and marketing team adjustment."

The official said that the above adjustment resulted in a substantial increase in management fees and marketing expenses in the first half of this year, which increased even more than the increase in operating income, resulting in a decline in net profit.

According to analysts, the expansion rate of the home base of Luo Lai textile is second to none in the industry.

By the end of 2011, there were 2371 entity stores and 286 shops in that year.

Shen Wan's latest report on the company's performance yesterday showed that Luo Lai home textile plan accelerated the expansion of the channel in the context of the 2012 industry slowdown. It plans to grow 25% to 40% of the number of new shops throughout the year, and actively reserve talent resources, and recruit large numbers of new employees at the beginning of the year.

From this, researcher analysis pointed out that in the case of lower income growth, the strategy of "counter expansion" caused the cost pressure especially during the first half of the year.

Yesterday, another insider of a listed company also heard about the revision of the performance of the home textile company. "Although the macro environment is almost the same, the main reason is that the cost growth is more obvious."

In addition, due to the obvious slowdown in the home textile industry from the fourth quarter of last year, the company should have considered the new year's plan.

"This change of performance is surprising, but it should also be the result of the company's initiative to choose the counter trend expansion at the beginning of the year, and make the cost risk be released in the first half of the year."

Some analysts said.

The company said there was no change.

Yesterday, Luo Lai home textile also "disaster" counterparts.

Meng Jie home textile [19.91 -0.85%] fell 8.73%, and Anna [44.45 -0.11%] fell 3.86%.

What worries the market is whether the performance correction of the home textile company is a sign of overall change in the first half of the year, which has dragged the whole year's performance down. The two companies issued a quarterly report in April, and their forecasts for the first half of the year increased by less than 30%.

In contrast, the expansion rate of the dream home textile is not inferior to that of the Luo Lai home textile.

Last year, the company increased its net sales by 430 brands, and plans to increase 500 this year.

However, this cost has been reflected in last year's performance.

"So far, we have not received any notice from the financial department to revise the performance. It should not be a great possibility. Although the company's first quarter performance has dropped year by year, the sales in the two quarter increased year by year, showing a warming trend. I hope this situation will continue."

Company official said.

Last year, the annual revenue of Meng Jie home textile increased 46%, and net profit increased by only 22%, which was lower than the annual growth rate of home textiles, fuanna 55% and 62%. The main reason is that the sales of Meng Jie home textiles increased by 81% over the same period last year.

This year, Meng Jie home textile improves the quality of new shops and other measures to control costs.

The most robust development of fuanna relevant people also said that the company's first half performance notice in a quarterly report has not changed at present, although the macro-economic will make the home textile enterprises under certain pressure, but "the situation will not be so pessimistic, and the company's performance has been relatively stable."

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Changing the way of "horse race enclosure" is imperative.

For the future, the whole year of the home textile industry is not pessimistic due to the busy season in the second half of the year.

Yesterday, the home textile insiders continued to remain optimistic about the company's performance this year.

She said that the upward trend of management fees and marketing expenses will be better in the second half of the year, so the company's annual net profit should be no problem with last year's flat, and even there is room for growth.

Some analysts said that despite the textile

The industry is at the bottom and the recovery is slow, but the home textile industry's performance in the second half of the year is not particularly pessimistic. The specific performance also depends on whether the economic data can be better and the recovery of consumption will be restored.

From the first half of this year, the home textile industry order data, several leading companies have shown a certain growth.

"The first half of the order will see the autumn and winter this year, fuanna and Meng Jie home textiles have a relatively obvious increase."

However, the case of Luo Lai home textile still causes the home textile industry to reflect on the extensive extension method that has been pursued all along.

"Home textile industry as a sub industry is difficult to break away from the background of the textile and garment industry."

Guo Jin securities [12.58 -0.16%] textile and garment industry analyst Zhang Bin analysis.

He pointed out that the slowdown in economic growth, consumption slowdown, high prices and other factors will allow the industry to undergo a long recovery process.

In the long run, domestic textile and garment retail enterprises have experienced bull market for about 20 years, and most enterprises have been relying on unilateral extension.

Although the development of "horse race enclosure" type has led to higher cost rate and compression profit, the support of demand can help enterprises to achieve growth in performance.

However, in meeting the basic needs of consumers, the textile and garment industry will face how to meet the personalized needs of consumers in the future. Brand development will gradually become the source of industry competition. In recent years, enterprises will usher in a crucial pformation period.

In addition, the background factor that overlay industry boom is no longer the background factor, making this pformation more urgent.

"Although the domestic market will mainly expand in the future, there will be more and more.

Emphasis should be placed on endogenous development ".

Zhang Bin said.