Bosideng High Price Daphne Executives To Achieve A Decline In Performance To Be Rescued

< p > Bosideng announced tonight that the incumbent chairman and CEO Gao Dekang will no longer serve as chief executive of Bosideng from May 15, 2014. Liang Xuhui, former chief strategist of Daphne, will take over as chief executive of Bosideng. It is reported that Liang Xuhui and Bosideng signed a contract for three years, with an annual salary of up to 5 million yuan. < /p >
< p > for the personnel changes, Bosideng said that this is mainly due to the growing size of Bosideng and the need to introduce more professionals to fine division and management, laying a solid foundation for long-term business development. "It also effectively improves the corporate governance level of the company". < /p >
< p > it is understood that Liang Xuhui served as the director of operations for good children of children's products group. In March 2011, Liang Xuhui announced his resignation when the good boy had just been listed for less than 4 months. In January 2012, Liang Xuhui joined Daphne group as chief strategy officer, responsible for Daphne group's strategic development and major business decisions. < /p >
< p > some analysts pointed out that Bosideng dug Daphne Liang Xuhui at this time node. This is mainly due to the sharp decline of Boston's performance in recent years. At the end of March this year, Bosideng issued a profit warning last year, announced that Bosideng is expected to end March 31, 2014 2013 fiscal year, its revenue will have a "double digit" decline compared with the same period last year. Bosideng explained that the main reason for the sharp decline in revenue was "most of China's temperature was higher than normal winter last winter". In addition, Bosideng side also said that due to the continued increase in operating support, the company's net profit decline in 2013 will be higher than its revenue decline. < /p >
< p > Bosideng's interim results in the 2013 fiscal year show that Bosideng's revenue declined by 8.8% to 2 billion 809 million yuan in the first half of fiscal year September 30, 2013, and operating profit income dropped sharply from 19.67% to 343 million yuan over the same period. Bosideng's down clothing brand, in the first half of September 30, 2013, the sales revenue of Bosideng, Xue Zhong Fei, Bing Jie, Kang Bo 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. Besides the sales of Bosideng and KangBo brand declined slightly compared with the same period last year, the brands of snow, ice, and other down coats decreased 11%, 26% and 29% respectively, compared with the same period last year. < /p >
< p > in addition, Bosteng men's clothing business, which is highly regarded by Bosideng group, remains in a slump, and its performance is still not satisfactory. Its annual report 2012 shows that Bosteng men's clothing sales volume of 480 million yuan, down 30% over 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. In the first half of September 30, 2013, the number of men's clothing stores in Bosideng was again reduced by 92 stores to 663 stores. < /p >
"P" is not only Bosteng men's clothing, but also the main theme of Bosideng group's brands. 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. < /p >