Apparel Sales Resumed In August

The biggest difference of "fashion half moon" lies in tracking closely the international and Hong Kong Stock Companies in order to provide reference and reference for A share research and investment.

Key points of basic data: less interference factors and promotion in August

Retail sales of such terminals are growing faster.

In August, the trend of clothing meso and micro data was the same. Among them, hundreds of retail businesses were retailing in clothing.

The volume rose 16.7% year-on-year, up 5.2 percentage points from the previous month (retail sales grew 5%, up 2.5 percentage points from the previous month), but the trend of the meso and micro level data of jewellery was inconsistent, reflecting that the retail sales data of small and medium-sized cities or small and medium-sized shopping malls were better than those of key shopping malls.

A slight recovery, but

Exports of goods are still poor; since August, the price of precious metals, major textile raw materials and textiles has continued to rise.

A shares: most of the company's terminal sales growth has recovered from July in August because of the high discount rate in August.

The battalion's growth rate was 39% under the stimulation of sales promotion, and the sales growth rate was slower than that of the direct battalion. The sales growth was slower than that of the direct battalion. Sales in August were better than that in July, although the growth of the same store was not high, but the growth rate of the new shop was better than that of the direct sales. The sales volume increased by more than 20% in 7 and August. The sales volume in August increased by more than 10% over the same period this year. The sales volume of the gold jewelry business increased by 23% in the same month, and the wholesale revenue increased by 25%. AOKANG: 7, August domestic sales report revenue is expected to increase by 30% or so over the same period, but the export processing continued the poor situation in the first half of the year. The overall growth rate of 7 and gross income is expected to be the same as that of the first half of the year, which is between 20-25%. Seven wolves: August straight

Hong Kong stock and overseas companies: in 2013, the amount of orders in spring and summer fell 9%, and the L2 of the sub brands increased by 17% compared with the same period last year. The decrease in the main brands' orders was mainly due to the weakness of terminal consumption, the higher inventory and the lower order rate this year.

Goldlion, Anta, XTEP and other companies have significantly slowed down the growth rate of orders, but the growth rate of orders in spring and summer in Changxin in 2013 did not slow down (the sum of 2013 spring and summer orders increased by 16%, while 2012 and autumn and winter increased by 15%).

H&M sales in August decreased by 4% compared with the same period last year. Burberry's recent same store sales have dropped to negative growth. The Zara parent company Inditex has achieved better performance in the medium term by the end of July (same store growth of 7%), while Vitoria's secret store grew by 9% in August.

Besides the category of jewelry and jewelry, the growth of the same store in August has been improved.

Trend review: since September, the valuation of the home textile family plate has continued to decline, which is basically in line with our expectations; A shares are rising by Weixing and Smith Barney, etc., but the larger ones are Huafu, genesis, 100 yuan, Luo Lai, Meng Jie, card slave, nine herd King, Pathfinder and seven wolves. H-share's rise is mainly in Liu Fu, Zhou Shengsheng, Zhou Dafu,

, the trend, Lining, PEAK and so on; the main drop is mainly in the Lang Lang (down to 20%) and Changxin, Baleno, I.T and so on.

Investment strategy: the two men's clothing companies will be slightly lower than expected in spring and summer next year, and the industry has recently adjusted the trend of adjustment.

The industry lacks catalyst in the near future, and the market is expected to digest the slowdown in orders next year.

However, there has been much adjustment in the recent industry valuation. After a reasonable digestion of the growth rate next year and a low base level in the fourth quarter of last year, the selected varieties are expected to gain some benefits by the end of the year.

In the short term, the relative emphasis is on the recommendation of long, fuanna, Carlo and Pathfinder. In addition, old Feng Xiang has been able to choose the gold price trend in recent years. AOKANG's recent sales figures are still good, and this year's valuation is cost-effective.

The seven wolves can wait for orders, and the situation will be taken care of after digestion.

Risk warning: economic slowdown will affect consumer demand; cost increase will reduce profitability; external demand will not affect exports.