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The Seven Wolves Also Had To Shut Down 152 Stores In The First Half Of The Year Due To Inventory Pressure.

2013/9/6 20:43:00 30

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after the domestic sports brand closed shop, the seven wolves also had to shut down 152 stores in the first half of the year due to inventory pressure.

Data show that as of June 30th, the company had 3855 stores, of which 462 were direct outlets, with a net decrease of 152.

Shenyin and Wanguo released the report of the seven wolves. It was considered that the overall consumption was low in 2013. The price of men's clothing was slowing down, and some of the terminal shops were under pressure.

operating income decreased by 4.27%

according to the 2013 semi annual report of the seven wolves, during the reporting period, the company achieved operating income of 1 billion 423 million yuan, down 4.27% compared to the same period last year, and the operating cost was 755 million yuan, down 10.16% compared to the same period last year. Gross profit margin was 46.93%, an increase of 3.48% compared to the same period last year. The cost of the period was 305 million yuan, down 1.81% from the same period last year, and the R & D investment was 53 million yuan, down by 2.64% over the same period.

for the decline in operating income, the seven wolves said, "constrained by the dual pressure of capacity and inventory, China's economic growth has obviously declined and terminal consumption is weak."

At the same time, the company also said, "weather factors also to a certain extent, increased the adverse impact on terminal sales".

seven wolves announced that although the Spring Festival delayed the sale of the company's winter clothing sales, the first quarter sales data reached a good level, but the two quarter of the more unfavorable weather factors, resulting in off-season sales less power.

in the first half of 2013, the negative impact of the boom of consumer terminals on the company's performance, which was brought about by the macroeconomic impact, began to appear. The main business of the seven wolves realized a revenue of 1 billion 349 million yuan, down 1.58% from the same period last year.

there are people in the industry who have pressure on men's clothing this year. It is expected that the sales in spring and summer in 2013 will be lower than in previous years. The pressure of ordering in spring and summer in 2014 will increase.

The men's clothing industry is in the adjustment period, and the profit turning point still needs to wait.

according to the report of seven wolves, the business income of the five main categories of jackets, sweaters, Western-style clothes, trousers and coats in the first half of the year decreased, decreasing by 23.54%, 27.63%, 3.51%, 1.38% and 38.8% respectively.

provision for depreciation is 200 million yuan .

Less than P, the inventory of the seven wolves remained high.

According to statistics, the seven wolves ranked a target= "_blank" href= "http://www.91se91.com/" > textile < /a > < a target= "_blank" href= "http://www.91se91.com/" > clothing < Industry > the list of listed companies falling in price.

The inventory of the seven wolves in the first half of 2013 was 662 million yuan, and the provision for inventory depreciation was as high as 201 million yuan, with an average extraction ratio of 30.33%.

for this, seven wolves insiders say that the company's inventory is in a controllable state, which is normal.

When a reporter asked why the company raised 200 million yuan in inventory, the company said it was based on accounting standards.

although the seven wolves insiders told reporters that the plan was very normal, the reporters found that the annual inventory of the seven wolves was only 735 million yuan in 2012, while the company's 2012 price increase was only 169 million yuan.

But in the first half of 2013, the seven wolves set aside a price drop of up to 201 million yuan, which was 18.93% higher than the 2012 price increase.

China Daily reported that in the first half of 2013, the seven wolves were more prepared due to the drop in inventory prices, resulting in a company's assets impairment loss increased to 33 million 945 thousand and 200 yuan, up 298.76% from the same period last year.

it is understood that the seven wolves carry out effective inventory promotion plan, through the network sales, temporary sale, factory stores and other forms to assist the channel to deal with inventory, reduce channel inventory pressure, support terminal benign operation.

Taking the inventory pressure into account, the company expanded the scale of e-commerce. In the first half of the year, the total sales volume of the network was about 100 million yuan, an increase of about 40% over the same period last year. Most of the sales revenue was processed by inventory. P

net decrease of 152 shops

seven wolves took the same way as the current sports brand in the process of going stock, that is, from wholesale to retail strategy.

At the same time, the company also said that during the reporting period, based on external environmental pressure, the company's agents and dealers slowed down the speed of developing terminal channels.

Moreover, the number of shops in the first half of the seven wolves dropped by 152.

As of June 30th, there were 3855 stores in the company, including 462 straight terminals, and a net decrease of 152 stores.

to explain the decline of the store, the seven wolves explained that "in order to reduce internal consumption, the company has established a channel early warning mechanism and resolutely closed down some inefficient and invalid shops".

At the same time, the seven wolves expect that in the second half of the year, the macro-economic and peripheral environment may still face difficulties in the coming period and will continue to have an impact on the sales terminals.

use raise funds to manage finances

"P >" seven wolves "on such a large scale shop and last year's issuance of 1 billion 766 million yuan opened a sharp contrast.

data show that in June 13, 2012, seven wolves completed a total of 78 million 200 thousand shares of RMB common stock (A shares) (1 yuan per share) and issued a price of 23 yuan per share. After deducting the issuance cost, the net proceeds actually amounted to RMB 1 billion 766 million yuan.

at that time, seven wolves said that the fund-raising fund was used in the marketing network optimization project. The total planned investment of the project was 2 billion 66 million 140 thousand yuan, and the planned use of raising funds was 1 billion 766 million yuan. Up to 30 2013, 06 of the total investment was 13 thousand and 700 yuan. All the funds were raised. The completion rate of the project was 6.63%, and the progress of raising funds was 7.75%.

It has been more than a year since the issuance of "P" seven wolves. However, the company has completed only 7.75% of its progress.

In this regard, the company explained that during the reporting period, commercial property prices were still high, and retail terminal operating costs were high. In order to reduce investment risk, the company slowed down the pace of shop opening and shops purchase, and therefore raised less capital investment.

but some analysts questioned that when the seven wolves were expected to increase their sales, the operating cost of the retail terminal was already high. Why did the company wake up later?

in fact, seven wolves did not idle their funds and brought many benefits to the company.

The announcement shows that in September last year, the company raised funds to supplement liquidity.

In addition, the company also uses part of the temporary idle funds to raise 350 million yuan to carry out cash management and investment guaranteed financial products.

Data show that the company commissioned a total of 1 billion 125 million yuan in the first half of this year, of which 775 million had its own funds and 350 million raised funds.