The Overall Situation Or Improvement Of The Sporting Goods Industry In 2013

2012 is domestic sports. Clothes & Accessories An extremely tough year for the industry. Domestic and foreign market downturn, manufacturing costs rise. clothing Outstanding problems such as inventory backlog, resulting in a sharp decline in the performance of domestic sports apparel enterprises last year, the sharp decline in profitability of enterprises, and the trend of Customs shops also spread.

Analysts say the expansion of the horse race enclosure is gone forever. At present, the domestic sports brand is still in the crisis of low sales and overstock. Although the overall situation of the industry is expected to improve this year, the recovery will be much longer than expected, and it is expected that there will be a turning point in 2014.

　　 Generally poor performance

A few days ago, domestic sporting goods enterprises released the 2012 financial report one after another, and frequently refreshed the lowest record since listing: the first loss in eight years since the listing of Lining in 2012, and the first decline in net profit since the listing of Anta for five years. PEAK's net profit in 2012 has dropped to its lowest level in nearly five years.

Under the pressure of high inventory pressure, the profitability of the industry has plummeted. PEAK's 2012 annual report shows that net profit of 310 million yuan in 2012, a decrease of 60% over the same period last year. Anta realized net profit of 1 billion 359 million yuan in 2012, down 21.5% compared with the same period last year. Before that, Anta has maintained a rapid growth. From 2008 to 2011, the turnover of the company rose from 4 billion 627 million yuan to 8 billion 904 million yuan, and the net profit also doubled. Anta also said that this year will continue to reduce 475-575 stores.

In fact, in recent years, extensive expansion of domestic brands has led to a concentrated outbreak of inventory backlog and the spread of closed doors. Data show that in the first half of last year, Lining closed 1200 stores, PEAK closed 747 stores, in addition, Anta, XTEP, 361 degrees, and so on, the current scale of shops are also around 100-200.

　　 Revival takes time.

Insiders said that at present, the whole industry did enter the bottom of the valley, but signs of recovery did not appear. In 2013, the industry will still be consolidated at low levels. At present, it is difficult to judge whether the performance of sporting goods companies in 2013 will be better than that in 2012.

In fact, the slowdown in sales growth, the serious backlog of inventory and the decline in profitability of enterprises are a major problem for several major sporting goods manufacturers in China. And the internal and external attacks, the impact of international brands on Chinese domestic brands is becoming increasingly serious. Compared with Adidas's 2013 performance in Greater China, China's sports brand business is not optimistic this year.

Analysts pointed out that although the inventory problem has been digested in last year's industry discount sales promotion efforts, but the new product continues to develop, the total volume of the industry has not changed, and the stock pressure is still difficult to ease before the terminal market has improved. The depreciation rate of goods has also accelerated, and the declining total orders has become an unavoidable fact. From the first half of 2013, we can see that the total amount of deposits has generally declined in the 20%-30% range.

It is noteworthy that Lining, who experienced a huge loss, has recently launched a channel revival plan, which is expected to cost between 14 and 1 billion 800 million yuan, mainly including supporting dealers to clean up inventory and inventory repurchase. Peng Gangxiang, an analyst at Guotai Junan, predicts that the same store sales in the fourth quarter of last year will drop by more than 10%, and inventory sales will be between 8 and 9 times. At present, sales of less than 50% of retail channels are new products. It is expected that the company will not change substantially in the first half of this year. Assuming that inventory clearance can be completed in the first half of 2013, sales will fall by 30% in the second half of the year, and sales will rebound in 2014.