Bosideng'S Performance Slump And Close Shop

Bosideng International Holdings Limited released its interim results on 19 th. Data showed that Bosideng's revenue declined by 8.8% to 2 billion 809 million yuan in the first half of September 30, 2013. profit Revenue fell sharply from 19.67% to 343 million yuan, and net profit rose 3.1% to 326 million 100 thousand yuan during the Boston report period due to a substantial increase in tax concessions and government subsidies.

　　 Main business down clothing down 4.7%

For the first half of the fiscal year's decline in performance, Bosideng is interpreted as a result of increased business competition and pressure from the seller's inventory. During the reporting period, the down jacket business is still the main business of Bosideng. Data show that as of the first half of September 30, 2013, Bosideng's down jacket income was 1 billion 756 million yuan, accounting for 62.5% of total revenue, down 4.3% from the same period last year. Bosideng eiderdown self-service store revenue was 318 million yuan, down 20.45% from 264 million yuan a year earlier; the wholesale business income of down clothing was 1 billion 383 million yuan, down 12.25% from 1 billion 576 million yuan a year earlier; while other income of Bosideng feather down business increased substantially, and the reporting period received 55 million 200 thousand yuan, an increase of 1871.4% over the same period. In this regard, Bosideng said that the cost is mainly related to the sales of raw materials and the licensing fees for down jacket products.

In the first half of September 30, 2013, the sales revenue of Bosideng, Xue Zhong Fei, Bing Jie, KangBo and other down garment brands were 1 billion 8 million yuan, 281 million yuan, 165 million yuan, 202 million yuan and 46 million yuan respectively, while the sales revenue of Nami Shidokazuyasuhiro brand declined slightly compared with the same period last year. The sales revenue of snow flying, Bing Jie and other down coats decreased 11%, 26% and 29% respectively compared with the same period last year.

Bosideng men's business has declined sharply for two consecutive years.

Bosideng non feather down business has also declined significantly. Data show that, as of the first half of September 30, 2013, Bosideng's non feather business income was 399 million 500 thousand yuan, accounting for 14.2% of total revenue, down 18.1% compared with the same period last year. Bosideng Mens, Jesse and Mogao reported sales during the period were 96 million yuan, 122 million yuan and 168 million yuan, respectively, down 34.3%, 17.1% and 0.4% respectively.

Among them, Bosideng men's clothing business, which has been placed high hopes by Bosideng group, remains in the doldrums, and its performance is still not satisfactory. According to its annual report last year, sales of Bosteng men's clothing were 480 million yuan, down 30% from the same period last year. Bosteng men's clothing had previously proposed the goal of opening 1000 stores, but now the plan has been stranded. Its last financial year annual report shows that in last fiscal year, Bosideng men's clothing net reduced 146 stores to 755 stores. In the first half of September 30, 2013, Bosteng men's clothing once again reduced by 92 stores to 663 stores.

In addition to the down and down business, during the review period, the OEM business income of Bosideng OEM declined by 12.9% to 653 million yuan as a result of the large demand for OEM orders to Southeast Asia, while the figure was 750 million yuan in the same period last year, an increase of 18.8% over the same period last year. Bosideng introduced the existing OEM OEM customers to 11, mainly for the United States. clothing Enterprise.

　 Increased net profit from tax preferences and government subsidies exacerbated inventory problems

In the first half of September 30, 2013, Bosideng's profit fell by 19.67% to 343 million yuan, but its net profit increased by 3.1% to 326 million 100 thousand yuan. Looking back on the whole reporting period, NetEase financial found that in the first half of September 30, 2013, Bosideng received a subsidy of 31 million yuan from the government, compared with only 17 million yuan in the same period last year. In addition, the report shows that Bosideng also received a local government tax concession of 142 million yuan, which was 97 million yuan in the same period last year.

In inventory, Bosideng inventory problem continues to intensify. During the reporting period, the stock of Bosideng was 2 billion 703 million yuan, compared with 1 billion 971 million yuan in the same period last year, an increase of 27.08% over the same period last year.

Bosideng's net sales decreased by 503 in half a year, and 4665 in last year.

In this semi annual report, the store became the main theme of Bosideng. Data show that as of the first half of September 30, 2013, Bosideng group reduced 503 stores, including 344 down businesses and 159 non down businesses. Bosideng and KangBo reduced net stores by 256 and 306 respectively. Bosteng men's clothing, Jesse and Mogao respectively reduced 92 stores, 27 stores and 41 stores respectively. Boston's annual report shows that Bosideng has increased 4665 stores to 13009 stores in one year.

according to Bosideng It is reported that during the reporting period, the number of franchised stores in Bosideng down business decreased by 1042 to 8870, while self owned stores increased from 698 to 3795, and the proportion of self owned stores in the total retail network has climbed to 30%. Data show that as of September 30, 2013, the total number of Bosideng down door stores was 12665, and the number of non feather down business stores was 1267.