American Barrack Clothing Is Deep In The Mire Of Achievement, Closing Price Is Low Again And Again.

[2012 three quarterly net profit decline] Clothes & Accessories The three quarterly report showed that the company's operating income in the first three quarters was 7 billion 194 million yuan, an increase of 5.91% over the same period last year, but its net profit was 752 million yuan, with an increase of less than 1%. Among them, the total income in the third quarter was 2 billion 594 million yuan, and net profit was 320 million yuan, all down 13.4% compared with the same period last year.

The market value has shrunk by 18 billion a year. After recent media reports about its "beautification of reports" and "concealment of huge stocks", former executives and franchisees openly expressed their views. American Apparel There are many problems in operation, management and sales.

The two tier market is more volatile. As of October 22nd, compared with the August 15, 2011 high price of 35.82 yuan (not regaining power), the stock price fell by 54.72%, and the market value shrank by more than 18 billion yuan.

Media exposure American bond makes false accounts. In October 15th, media reports said, "in the first half of 2012, the digestion of the 800 million inventory of Smith Barney clothing was suspected of false sales and artificially adjusted income." Smith Barney was suspended on the same day. That night, the company issued a Clarification Announcement of up to 4000 words, explaining the problems in the media reports, such as the pressure from the company to the franchisee, the decline of the company's stock and the flow of personnel.

In view of the public concern about "where 800 million stocks went," the state of apparel said that since 2011, the company has made greater efforts to control production scale. By the end of 2012 6, inventories had dropped by 800 million yuan compared with the beginning of the year. Among them, the sale of old products brought about a decrease of 1 billion yuan in inventories and an increase of 200 million yuan in new products (1 billion 600 million yuan in the production of new products and 1 billion 400 million yuan in sales).

In addition, Smith Barney also explained the personnel changes in recent years. However, the two tier market does not sell accounts, after the resumption of trading, the United States shares prices all the way down.

[false accounts gate has fallen back on investor confidence] before its three quarterly report, its huge inventory digestion and financial accounts were questioned by the market. It was identified as "whitewash beautiful reports" and "suspected financial fraud".

In particular, the United States State clothing for half a year to digest nearly 800 million yuan. Stock The media reported that Zhou Chengjian, the chairman of the board of directors, had absorbed 317 million of Zhou Chengjian's relatives, and his relatives also contributed two thousand to about thirty million of the stock. The media also quoted the views of the relevant people, and questioned Metersbonwe's franchisee's operation status, revenue recognition principle, inventory changes and reasons for personnel changes. {page_break}

[U.S. stock has reached 2 billion 199 million] three quarterly data show that the United States stock has reached 2 billion 199 million yuan. Inventory problems have already begun to affect business operations. In fact, Spin clothing The inventory problem in the industry has existed for a long time, especially in sports and casual wear.

In the past few years, domestic garment enterprises have made explosive growth, and the strong demand power from scratch has led some enterprises to blindly produce, resulting in overcapacity and overstock.

At the same time, "along with the continuous increase of domestic production and labor costs, the industry as a whole is lack of innovation, and the homogenization of products is serious, which has become the main reason for increasing inventory in the apparel industry."

(1 billion 200 million) the receivable account receivable from US bond rose to 1 billion 200 million yuan from half a year's report to 669 million yuan in the three quarter. However, for the $1 billion 200 million account receivable, the United States has not prepared any allowance for bad debts.

According to the information, its accounts receivable mainly includes receivables from products sold to franchisees and department stores.

"US bond apparel net profit fell faster, coupled with this year's garment industry is also sluggish, this kind of bad management account based on management judgment is somewhat radical, compared with the age accounting method, the subjective adjustment space is larger." A market analyst thinks. "Adopting such a method of collection of bad debt receivable will lead to more estimated profits and less provision for bad debts." Jing Xiaoyong, a well-known financial expert, said.