Daphne Annual Same Store Sales Fell 10.4% Profit Warning

< p > DaphneInternationalHoldingsLimited Daphne International Holdings Ltd issued a profit warning on the evening of 20. It said that the sales of core brands in the fourth quarter of 2013 and the same year were significantly reduced, while the average selling price also fell in the median.

< /p >

< p style= "text-align: center" > < img border= "0" align= "center" alt= "" src= "" /uploadimages/201401/21/20140121093559_sj.JPG "/" < > > "

At the end of December 2013, the core brands, including Daphne and a href= "http://www.91se91.com/news/index_c.asp" > shoe cabinet "/a", fell by 5.4% in the same quarter, while the group reduced 222 Direct stores and 23 franchised stores, resulting in a net increase of only 64 stores throughout the year and a net reduction of 114 in franchised stores.

In 2013, Daphne's core brand sold 10.4% in the same store, up 9% in the same period last year.

As of December 31, 2013, Daphne's core brand operated 6319 stores.

< /p >

< p > 2013, the performance of Daphne DaphneInternationalHoldingsLimited was weak. In the three quarter, group a href= "http://www.91se91.com/news/index_c.asp" > core brand < /a > sales in the same store fell by 18.1%, and the first half of the fiscal year also fell.

Daphne said its consumption intention in mainland China continued to be weak in 2013, and abnormal weather reduced the flow of people on the street shops, adding pressure to sales performance.

At the same time, the market competition is becoming more intense. In the beginning of 2013, the employee turnover situation added additional pressure to the group.

< /p >

< p > > a href= "http://www.91se91.com/news/index_c.asp" > Daphne < /a > indicates that the sales volume of the group in 2013 is about the same as that of 2012 due to the negative growth of the same store sales and the decrease in the number of stores.

In 2013, the group's net sales decreased by 50 core brand sales points, while the net sales increased by 767 sales points in 2012.

The negative leverage effect caused by the slowdown in sales and the impairment loss caused by the closure of poor stores resulted in a significant decline in the operating profit margin of core brands in 2013, especially in the second half of the year.

< /p >

< p > due to weak sales, DaphneInternationalHoldingsLimited Daphne met with ExaneBNPParibas, France, Paris bank and securities department and Mei Yin Mei Lin in October 2013.

< /p >

In the early days of P, at the beginning of 2014, the stock price of Hong Kong stock was rebounded by the fourth quarter favorable data of Belle International Holdings Ltd. In January 6th, the share price of DaphneInternationalHoldingsLimited Daphne International Holdings Ltd rose by 16.19% to HK $4.45.

< /p >

< p > at the same time, while Belle International Holdings Ltd maintained its rating reduction, Daphne DaphneInternationalHoldingsLimited was upgraded by some investment banks, including Nomura and Citi Citibank, which upgraded Daphne's rating to buy, and Nomura increased to Daphne target price to HK $6.2.

Obviously, Daphne's performance disappointed the above investment banks.

< /p >

< p > DaphneInternationalHoldingsLimited Daphne will announce its annual results in March 2014.

< /p >