Poor Performance In Apparel Retailing Is Waiting For Profit Turning Point.

< p > in the first quarter of 2014, the number of retail sales of 100 major large-scale retail enterprises increased by 1.4% in the first quarter and 1.3% in March.

Among them: 1) in the first quarter, the retail sales of a target= "_blank" href= "http://www.91se91.com/" > clothing < /a > were basically the same as that of the same period last year, and the growth rate was 6.4 percentage points lower than that of the same period last year.

The year-on-year growth rate was 3.9% in March, representing a 6.8 percentage point decline compared with the same period last year.

2) cosmetics grew by 1.9% in the first quarter, and the growth rate dropped 10.5 percentage points.

In March, it grew by 0.6% compared to the same period last year, and the growth rate dropped by 16.2 percentage points.

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< p > < strong > industry and company tracing < /strong > /p >

< p > 1, Hai Lan home research: the company is a real retail enterprise in garment enterprises.

Revenue growth is expected to remain at 40-50% this year, with the main brand of Hai Lan's expected retail terminal revenue reaching 20 billion, and the 13 year retail end revenue of 12 billion 500 million, with an expected revenue of 3-4 billion yuan this year.

This year, through the adjustment of some franchisees in the mature shops, it will help the franchisees to recover their investment as soon as possible.

According to the performance forecast, we expect to achieve net profit of around 500 million yuan in the first quarter, and we expect to exceed 2 billion net profit throughout the year.

The company plans to expand many categories in the future to create a cheap retail Kingdom, and the hardware and software foundation has been well established.

The company's data mining and analysis system has outstanding capabilities, capable of doing accurate distribution and pferring goods in the middle and across the region. Standardized and militarized management improves business efficiency by doing thousands of stores, online and offline share the same price, all stores can be returned, and the company has advanced logistics equipment, high automation and strong delivery capability, which can not only achieve positive logistics, but also reverse logistics.

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< p > 2, < a href= "http://www.91se91.com/news/index_f.asp" > seven wolves < /a > tracking: last week, the company issued a quarterly report: 2014Q1 realized income of 650 million yuan, down 31.3% compared to the same period last year; net profit 110 million yuan, down 40% compared with the same period last year, EPS was 0.15 yuan.

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< p > 3, Luo Lai home textile tracking: last week, the company released its annual report and quarterly report: in 2013, its revenue reached 2 billion 500 million yuan, down 7.4% compared to the same period last year; net profit was 330 million yuan, down 13% compared with the same period last year, and EPS was 1.18 yuan.

2014Q1 realized revenue of 660 million yuan, an increase of 1.5% over the same period, and net profit of 98 million 750 thousand yuan, an increase of 15% compared with the same period last year, and EPS was 0.35 yuan.

2014H1 performance is expected to change by 0%-15%.

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< p > 4, Mei bang a target= "_blank" href= "http://www.91se91.com/" > dress < /a > tracking: last week, the company released its annual report: in 2013, the revenue reached 7 billion 890 million yuan, down 17% compared to the same period last year; net profit was 400 million yuan, down 52.3% compared to the same period last year, EPS was 0.4 yuan.

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< p > 5, Lu Tai A tracking: last week, the company released a quarterly report: 2014Q1 realized revenue of 1 billion 530 million yuan, an increase of 1.5% over the same period last year; net profit of 210 million yuan, an increase of 11% over the same period, and EPS of 0.22 yuan.

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< p > 6, card slave road tracking: last week, the company announced a quarterly report: 2014Q1 realized revenue of 220 million yuan, an increase of 1.6% over the same period last year; net profit of 36 million 850 thousand yuan, down 48% compared with the same period last year, and EPS was 0.18 yuan.

2014 H1 projected net profit margin of -30%--10%.

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< p > 7, AOKANG international tracking: last week, the company released its annual report and quarterly report: in 2013, its revenue reached 2 billion 800 million yuan, down 19% compared to the same period last year. Net profit was 270 million yuan, down 47% compared with the same period last year, and EPS was 0.68 yuan.

2014Q1 realized revenue of 740 million yuan, a year-on-year decrease of 11%, net profit of 100 million yuan, a decrease of 20% compared with the same period last year, and EPS of 0.25 yuan.

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< p > 8, fuanna tracking: last week, the company announced a quarterly report: 2014Q1 realized revenue of 452 million yuan, an increase of 3% over the same period last year; net profit of 100 million yuan, an increase of 14.5% over the same period, and EPS of 0.31 yuan.

2014 H1 projected net profit margin of 0- 20%.

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< p > 9, good news bird: last week, the company published its annual report and quarterly report: in 2013, its revenue reached 2 billion 20 million yuan, down 10.5% compared to the same period last year; net profit was 160 million yuan, down 66.4% compared with the same period last year, and EPS was 0.27 yuan.

2014Q1 realized revenue of 625 million yuan, an increase of 13% over the same period, and net profit of 54 million 110 thousand yuan, an increase of 5.6% compared with the same period last year, and EPS was 0.09 yuan.

2014 H1 projected net profit margin of 0-30%.

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< p > last week < a target= "_blank" href= "http://www.91se91.com/" > textile < /a > the performance of the clothing plate is weaker than that of the market.

Textile and apparel index fell 6.25% last week, down 2.06% from the Shen Wan A index.

Among them, the textile manufacturing index fell 6.34%, relative to Shen Wan A index fell 2.15%; clothing home textile index fell 6.16%, relative to Shen Wan A index fell 1.97%.

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< p > industry basic data: cotton prices fell slightly last week, chemical fiber prices fell slightly: domestic 328 spot spot report was 17806 yuan / ton, zhengmian main contract fell 1% to 16050 yuan / ton.

Polyester staple fiber fell 0.1% to 8815 yuan / ton, viscose staple fiber rose 0.1% to 11585 yuan / ton, nylon sliced down 0.8% to 17700 yuan / ton.

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< p > our view: in the first quarter, the overall retail terminal of the clothing is relatively weak, the performance is generally lower than expected, and the main recommendation is Hai Lan's home.

Retail sales haven't improved much since this year.

According to a quarterly report of textile and apparel industry released last week, except for home textile industry, it is generally lower than expected.

Home textile industry is healthier in stock, and the demand is better than other clothing categories, but the retail terminal still needs to be improved from Luo Lai DA and a quarterly report.

The men's clothing industry is still under pressure, with a quarterly decline, and the retail terminal continues to be weak.

Casual wear industry sales situation has not yet recovered, the pressure is greater.

Continuous recommendation mode innovation is committed to creating the Hai Lan home of the retail leader of parity clothing. It recommends a comprehensive layout of Semir clothing for children's clothing industry, and pays close attention to the Pathfinder who actively builds outdoor ecosystem. It is concerned about the home textile industry leader Luo Lai home textiles and fuanna's recovery growth in the first quarter.

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