Bosideng And Other Brand Stocks Close To 2 Billion

The financial year of < p > 2012~2013 is not easy for Bosideng.

Reporters noted that as the boss of the down garment industry, Bosideng formally implemented the multi brand strategy in the past fiscal year, and independently separated its down garment brand "Bosideng", "snow fly" and "KangBo", and each brand formed a complete and complete operation system.

In the implementation of multi brand strategy, Bosideng's many brand channels were spreading, resulting in an increase of over 40% in the 2012~2013 fiscal year.

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< p > < strong > inventory approaching 2 billion < /strong > /p >

< p > on the earnings report, the 2012~2013 financial year Bosideng performance is not satisfactory, compared with the previous fiscal year net profit fell 24.92% to 1 billion 79 million yuan.

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Less than P, the Boston Group released its annual report for the fiscal year ended March 31, 2013. The report showed that the group's revenue was 9 billion 324 million yuan, up 11.3% over the previous year.

The growth was mainly due to a 15.9% increase in the down jacket business in the group year, an increase of 8.2 percentage points over the previous year, of which the average unit price increased by 5.6%, and sales increased by 9.6%, while the gross profit margin of the product remained at 50.6%.

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< p > this year as the first year of Bosideng's comprehensive promotion of the implementation of multi brand strategy, the market is extremely concerned about the financial report.

In this earnings report, the more prominent problem is the rapid growth of inventories.

Compared with last year, inventory from last year's 1 billion 398 million yuan to 1 billion 970 million yuan this year, an increase of 42%.

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< p > an unnamed analyst pointed out that the implementation of multi brand strategy resulted in a large number of goods required for Bosideng. However, the company's excessively extensive management of goods led to a high inventory of Bosideng.

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< p > earnings report also shows that, unlike in the past, Bosideng officially began to separate its down garment brand Bosideng, snow flying and KangBo in fiscal year 2012~2013 independently. From the design and product development, marketing and marketing channels, each brand forms its own complete operation system, but logistics and supply chain management is responsible for the unification of Bosideng.

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After P operation, each brand continuously improves its product positioning and product style, and enhances brand differentiation.

At the same time, the group has made corresponding adjustment and segmentation for the marketing channel of down garment business.

The department store counters are changed from original multi brand stores to single brand shops, and distributors' boutiques on the street make readjustment according to the location of the store and the positioning of the sales brand.

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< p > data show that as of March 31, 2013, the total number of Boston stores reached 13 thousand, a net increase of 4665.

The sharp increase in the number of stores is mainly due to the split of sales channels, and the original multi brand stores have been pformed into single brand stores. At the same time, brands have expanded more department stores according to their own positioning.

The total sales area increased by 18.9% to 1 million 37 thousand square meters.

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< p > earnings report shows that the group's down jacket business income reached 7 billion 93 million yuan, an increase of 15.9% over the same period last year.

The average unit price of the down garments increased by 5.6% and sales increased by 9.6%.

With the continuous increase of business volume, high inventory has become the first problem to solve in Bosideng multi brand.

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< p > < strong > management said that inventory management improved < /strong > < /p > this year.

< p > for the stock surging problem that the market is concerned about, at last week's performance briefing, Mai Runquan, chief financial officer of the company, said that the increase in inventory in the last fiscal year was due to the early production of some of the products that should have been produced in the current fiscal year 6~7, so as to reduce the overall production. However, the down season is a seasonal and functional product, so it will remain open for sale in the next fiscal year, and the current inventory level is healthy.

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< p > Mai Yun Quan also pointed out that since inventory increase has an impact on the company's cash flow, this year will focus on improving inventory management. It will close some old warehouses and build large-scale regional integrated logistics centers to reduce inventory management costs.

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During the period of less than p years, the down jacket business brought about 1 billion 275 million yuan in revenue for the group, a slight reversal of 5.3% over the same period last year, accounting for 13.7% of the group's total revenue.

As the non feather clothing brands were affected by the industry downturn, the non down garment brands had shut down some of the poor business in the year. As of March 31, 2013, the number of outlets for non down wear business was 1426, a decrease of 246 over last year.

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