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XTEP'S Opening Up To The Market Is The Best.

2014/6/11 15:39:00 48

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< a href= "http://sjfzxm.com/news/index_f.asp" > sportswear brand < /a > is expected to get out of the cold winter industry and move towards recovery.

A few days ago, XTEP President Ding Shuibo told Sohu securities in Changsha that "the worst period of sporting goods has passed", and this year will be a turning point in group business.

sportswear brand is expected to get out of the cold winter industry and move towards recovery.

A few days ago, XTEP President Ding Shuibo told Sohu securities in Changsha that "the worst period of sporting goods has passed", and this year will be a turning point in group business.

The reason is that the company's inventory reduction behavior has been effective in recent years, and orders and corporate profits have improved.

Thus, after the closing of the shop tide, XTEP opened the road of shop expansion in the year.

industry channel is king mode urgently to be pformed

a financial crisis has caused the sports apparel brand industry to encounter the cold winter. The industry problems have emerged one after another. High inventory and price competition have led to a decline in the profits of the industry, and the increase in store rents and labor costs has made the industry more difficult.

in recent years, the industry has staged a collective shutdown.

Data show that Lining, Anta, XTEP, 31st degree, PEAK and China are the top six brands with over 3000 stores.

According to the annual report, as of December 31, 2013, the number of shops in Lining regular stores, flagship stores, factory stores and discount stores was 5915, a decrease of 519 compared with a year ago.

"P" this year, the store tide has slowed down, and even a big business is expanding.

In May 31st, XTEP Asia's largest sports fashion experience shop opened.

This is also interpreted by the market as a signal for revival of the industry.

for this, Ding Shuibo stressed that unlike before, the opening of this shop is mainly about experience.

In his view, after the baptism of this crisis, the enterprise development mode shifted from the wholesale "channel mode" to the retail oriented "experience mode", paying more attention to the shopping experience brought by the terminal store to customers.

At the same time, he confidently believes that this is a new start in the whole country and can promote a new round of operation mode in the P industry.

The golden period of extensive development of sporting goods enterprises has passed. Enterprises must pform from the original horse racing enclosure and the original wholesale mode to a consumer oriented "experiential consumption" mode, from wholesalers to retailers.

Less than P, however, he also said that unlike the previous expansion of the industry, the expansion of the future scale will not be based on quantity, with more than a dozen or twenty a year, "the most, but not necessarily the best efficiency."

> a href= "http://sjfzxm.com/news/index_z.asp" > Terminal inventory < /a > days less than 5 months /p >

"the worst period of sporting goods is over," explains Ding Shuibo.

First, through the efforts of the group over the past 2 years, most of the inventory has been successfully digested. Secondly, sales discount is on the rise, and the franchisee is on the rise, which shows that the confidence of the market is rising; thirdly, the industry profits are rising.

Therefore, he believes that "this year is a turning point in group business".

in fact, this year, the sporting goods industry is showing signs of recovery. Several major sports brands have released third operational briefs and the performance of orders in the second quarter of 2014.

From the published data, orders and sales have improved significantly.

earlier, He Ruibo, chief financial officer of XTEP, said that the number of terminal stocks last year reached 4.5 months to 5 months, approaching 4 months of normal level, and estimated that the number of stocks will continue to improve.

XTEP also said that the first quarter of 2014, the first quarter of the same store sales to achieve a half - day unit digital growth, the first and second quarter also appeared to supplement the situation.

at XTEP's fourth quarter ordering conference in 2014, Ding Shuibo said that the market demand existed and the annual orders would not decline. The gross margin would be maintained at 40% to 41% level this year, and the sales of terminal products had narrowed from 40 percent off to 7 to 20 percent off. It is expected that the discount will remain at this level in 2015.

electricity supplier, world cup material pull growth /p >

P, the rise of the electricity supplier industry and this year's World Cup event will be the driving force behind the recovery of the industry.

Ding Shuibo told Sohu securities that the company's operating income increased by about 30% during the 2008 Olympic Games. Therefore, this year's World Cup event will also bring growth to the company's performance.

XTEP annual report 2013 shows that the company's revenue fell 21.7% compared to the same period last year, net profit fell 25.2% year-on-year.

for this year's new products, Ding Shuibo said running series is the highlight, and the football series is also growing.

At present, the world cup is an important advantage for XTEP. XTEP's soccer series is mainly campus series, which is biased towards fashion.

Less than P, e-commerce accounts for only 1% of the total electricity business. However, he said that there will be a significant increase in the next three years. XTEP will implement the strategy of "full channel and full channel", providing online products for special purposes, and cooperate with Jingdong, Tmall, Dangdang and so on.

And this experience shop will also become the demonstration point of enterprise O2O.

short-term basic improvement, /p >

each bank report also believes that XTEP's short-term fundamentals will continue to improve in the early days of recovery. The semi annual report and orders in the first quarter of 2015 will be the next catalyst for the company.

> a href= "http://sjfzxm.com/news/index_p.asp" > Citigroup < /a > recently raised the target price of XTEP from HK $2.1 to HK $3.4, and the rating maintained "sell".

The bank expects earnings to rise by 9% this year, mainly due to the use of positive operational leverage to control costs in the early days of recovery.

Although the momentum of recovery will support short-term stock prices, it is believed that the current positioning of the group will face greater market volatility in the long run.

the remittance report said that XTEP's fundamentals continued to improve and its "overweight" rating was maintained, with a target price of HK $4.5 unchanged.

It is also believed that XTEP will announce its performance in the first half of last year and the order in 2015 first quarter in 7/8, which will be the next catalyst for the company and will reassess the stock's time.

first Shanghai believes that XTEP's international retail end is improving, maintaining a "buy" rating with a target price of HK $4.49.