Footwear Industry Competition Is Fierce, The Impact Of The Electricity Supplier Is Obvious.

< p > recently, Daphne International released relevant performance data for the two quarter of 2013 and half year profit forecast. Its expected net profit in the interim dropped significantly.

Brokers also looked down on Daphne's outlook. When the relevant announcement came out, Daphne immediately encountered the collective failure of the major investment banks, and its share price fell more than 12%, hitting a low level in the past four years.

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< p > in the eyes of analysts, in addition to external sales sluggishness and the impact of weather factors, its popularity targeting has made competition from small stores and online stores increasing.

Under the situation of weak demand and fierce competition in the same industry, Daphne's future operation will not be greatly improved.

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< p > not only is Daphne, including the industry leader BELLE, but also the nine International Holdings (01836.HK), which is an international high-end women's shoe manufacturer and self retailing brand, has announced relatively low sales figures.

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< p > < strong > semiannual performance warning < /strong > < /p >

< p > after the first quarter sales decline, < a href= "http://www.91se91.com/news/index_c.asp" > Daphne < /a "still failed to reverse such a trend.

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< p > the latest announcement shows that Daphne's core brand sales in the same store declined by 13.7% in the two quarter, and the overall decline in the first half of the year was 9.2%.

As of the end of June, Daphne's sales point increased by 212.

According to its expectation, net profit will decrease significantly in the end of 6 in 2013 compared with the same period last year.

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< p > in the two quarter of last year, the sales of Daphne core brand and same store increased by 13.5%, while the first half was 16.7% in total and 366 in sales.

In the first quarter, the group's core brand business and same store sales had a slight decrease of 2.5% over the same period last year.

In contrast, this year's situation, especially in the two quarter, seems to be even more bleak.

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< p > for the downturn in the first half of this year, Daphne analysis said that it was mainly caused by the slowdown in economic growth, low consumption intention and the sharp decline of passenger traffic in the late spring.

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< p > Daphne also said that it has formulated the second half plan for the first half of the year: it will promote the growth of same store sales by improving the poor performance stores and optimizing the reward mechanism for front-line employees.

The company will further promote product diversification process and strengthen supply chain management.

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< p > the still depressed performance has once again affected the expectations of the organization. After being demoted for the first quarter results, Daphne was demoted again.

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P & amp; Merrill Lynch believes Daphne's performance in the first half is far worse than expected.

UBS said that BELLE's pricing power strategy was wrong, which made it lose its pricing power, and Daphne would have the same experience. So it lowered Daphne's 2013 to 2015 profit forecast of 25%, reflecting the slowdown in sales and increased administrative expenses.

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< p > more industry insiders pointed out that the demand for shoes is slowing down in the current market, and the major brands are also using low discounts to inventory. Daphne's low profit is mainly due to the increase in inventory and wage costs.

Under the situation of weak demand and fierce competition in the same industry, Daphne's future operation will not be greatly improved.

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< p > < strong > the impact of the electricity supplier is obviously less than /strong > /p >

< p > the analyst who declined to be named after the decline in the first quarter of last year pointed out that an important reason for the decline is that the sequel of "going to join" policy began to appear this year.

The proportion of franchised stores has gradually decreased, and the proportion of Direct stores has increased.

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< p > Daphne is still going on.

Data show that in the two quarter of 2013, the number of Daphne outlets increased by 136, while the number of franchisees decreased by 24.

In the first half of the year, it reduced 51 franchised stores, while the direct stores increased by 263.

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< p > > for this, a href= "http://www.91se91.com/news/index_s.asp" > shoes and clothing industry < /a > independent commentator Ma Gang does not agree with him. He said that the proportion of Daphne direct battalion has always been higher, and the impact of joining the alliance is less.

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Prior to the P, Zhu Qinghua, an analyst with CIC, told the daily economic news reporter that Daphne is positioning accurately, doing the middle and low end market, while China's low-end market has large capacity and wide market.

The company's core strategy of "multi category, multi brand, multi class and multi-channel" has greatly enhanced the influence of Daphne brand.

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< p > according to Ma Gang, Daphne's "route" is also wide, but the contribution of the middle and high-end parts is not large, and the main force is the middle and low end products.

And this part of the product in the electricity supplier constantly impact entities, the pressure is greater, sales decline is also inevitable.

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< p > Goldman Sachs pointed out that Daphne has more than 6000 stores in the mainland for the mass market in the mainland, but competition from small shops and online stores is intensifying. Daphne's online shop is small and only uses Taobao's three party platform.

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< p > besides, in the view of the industry, there is another unavoidable problem for Daphne, which is brand diversification.

Although diversification can cover more consumers, at the same time, the distraction of resources leads to the shortage of main brand growth.

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< p > it is noteworthy that in the case of China's slowing economic growth affecting the domestic market, not only Daphne, but also a number of shoe stocks have released sluggish sales figures.

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Less than P, the most eye-catching fear is BELLE, the industry leader.

A few days ago, it announced the worst situation since the financial tsunami in 2008. Although there was no negative growth in the same quarter sales in the second quarter of this year, it increased by only 0.5% over the same period last year.

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< p > in addition, nine Xing, an international top female shoe manufacturer and self retailing brand, also issued a profit warning. Operating profit in the first half of this year was down by 10-20% and net profit fell by more than 20%.

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< p > Ma Gang pointed out that, on the one hand, the competition situation of < a href= "http://www.91se91.com/news/index_h.asp" > footwear industry < /a > is more intense, and the impact from the electricity supplier is obvious.

On the other hand, from the perspective of the development trend of the industry, after a long period of development, the basic development of each enterprise is in a relatively saturated state. The frequency of consumption has not increased, and the development of the brand has been more difficult.

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