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How To Change The Dilatation Of The 3 Listed Companies Of Women'S Clothing

2014/7/20 0:42:00 47

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Expansion Listed Companies Women'S Clothes

> the world's < a href= "http://www.91se91.com/" target= "_blank" > clothing < /a > a href= "http://www.91se91.com/" target= "http://www.91se91.com/" > shoes "< > hat net" Xiaobian introduced to everyone is dilation encountered difficulties, the 3 listed women's clothing intensified to change.

2013, the depreciation fee increased from 91 million 400 thousand yuan in fiscal year 2012 to 112 million 700 thousand yuan, up 23.3% compared with the same period last year. The proportion of depreciation expense in retail sales increased from 4.7% in 2012 fiscal year to 5.7%.

In 2013, the administrative expenses of baozi group rose from 85 million 400 thousand yuan in fiscal year 2012 to 104 million 100 thousand yuan, up 21.9% from the same period last year. The proportion of total sales increased from 4.1% in the 2012 fiscal year to 4.9%.

weak consumer environment, high labor costs and store rentals are becoming a common "pain" for the entire retail industry.

Affected by this, those brands that have been tall and tall in the past few years have been losing their popularity. Their growth in revenue and net profit has declined sharply since 2013.

This is also true of Baozhong group, LAN Zi stock and Kaiser stock.

Baozhuang, Langer, Kaiser 3 brand growth began to decline in 2013, /p >

The Ports Design Ltd issued a profit warning in July 9th. The company made a preliminary assessment of the unaudited business accounts and other business data in the 5 months ended May 31, 2014. It expects the group's profit in the 6 months to June 30, 2014 dropped significantly compared with the same period in June 30, 2014.

"P" is unique. The business covers three parts of men's and women's clothing and leather goods, and about 37.74% of the high-end women's wear product line (for its first major business segment) Kaiser shares also issued a notice of further reduction in mid term profits in July 9th.

according to the announcement, Kaiser shares released the first quarter report, the expected interim results for 2014 1~6 months are: the net profit attributable to shareholders of listed companies is -50% to -20% over the same period, but according to its amendment notice, the net profit attributable to shareholders of listed companies is -80% to -50%, and the profit margin is 6 million 37 thousand and 200 yuan, ~1509.31 million yuan.

no brand can be single in a weak consumer environment.

In fact, these brands, which have long been known as "blue chip stocks", have declined since 2013, and have continued to this day.

2013, the sales volume of baozi group was 2 billion 137 million 100 thousand yuan, up 1.8% compared with 2 billion 98 million 400 thousand yuan in 2012. However, the operating profit was 411 million 100 thousand yuan, 14.35% lower than that of 2012, and the profit was 297 million 600 thousand yuan, a sharp decline of 15.98% compared with the 354 million 200 thousand yuan in 2012. The profit attributable to shareholders should be 293 million 400 thousand yuan, a decrease of 16.3% last year.

Although gross profit increased slightly by 0.9% compared with 1 billion 719 million 600 thousand yuan in fiscal 2012, reaching 1 billion 735 million 200 thousand yuan, the gross profit margin decreased from 81.9% in the 2012 fiscal year to 81.2%.

At the same time, as of the end of 2013, Baozi group's stores had a net decrease of 40.

Kaiser's revenue in 2013 was 506 million yuan, down 4.75% compared to the same period last year. Net profit was 25 million 400 thousand yuan, a sharp decline of -31.92% compared to the same period last year.

In the first quarter of this year, its decline was further deepened, with revenue of 120 million yuan, down 24.39% from the previous year's 158 million 800 thousand yuan, and net profit of 10 million 530 thousand yuan, down 36.73% from the previous year's 16 million 638 thousand and 300 yuan.

Compared with P, A, another professional high-end female garment enterprise in 2013, has a certain growth, but its growth rate has also declined sharply.

In 2013, its total revenue was 1 billion 378 million 800 thousand yuan, an increase of 23.39% over the same period last year, and net profit of 233 million 700 thousand yuan, up 1.06% over the same period last year.

In 2012, its total revenue was 1 billion 117 million 500 thousand yuan, an increase of 33.64% over the 836 million 200 thousand yuan in 2011 and a net profit of 231 million 300 thousand yuan, an increase of 10.83% over the 208 million 700 thousand yuan in 2011.

it can be found that since 2013, the revenue growth of the group has declined by about 10 percentage points, and the net profit growth has also dropped by about 10 percentage points.

In particular, net profit index after deducting non recurring gains and losses was 203 million 700 thousand yuan in 2013, a 8.81% year-on-year decline.

Among them, the main brand's growth rate of revenue in 2013 dropped from 26.18% in 2012 to 25.84%.

but in the first quarter of 2014, the stock market began to "double slide".

Its revenue in the first quarter was 333 million 900 thousand yuan, down 9.75% compared with the same period last year. Net profit was 61 million 802 thousand and 600 yuan, down 28.04% compared with the same period last year. Net profit after deducting non profits was 31 million 593 thousand and 400 yuan, a sharp decrease of 62.22% over the same period last year.

consumption is weak, store rentals are high, and the impact of the electricity supplier is dragging down the performance /p >

drag on the performance of these enterprises is nothing more than the common and biggest enemy of the current retail industry, namely, the continued weakening of the consumer environment, the continuous rise of terminal store rents and the rigid rise in the cost of employment, including employee pay and benefits.

baozi group said that the profit in 2014 declined significantly in the half year, mainly due to the weak retail atmosphere resulting in a decline in turnover and increased rental costs.

Kaiser shares said that in the first half of this year, its performance is expected to decline further, mainly due to the impact of the economic situation. The demand for clothing market continues to be weak, with a larger decline in revenue and less profit than expected.

for the first quarter of 2014, the performance decline of the first quarter was attributed to the fierce competition in the market, < a href= "http://www.91se91.com/" target= "_blank" > textile < /a > the overall weakness of the garment industry, and the increasing demand for personalized consumer goods, especially clothing, which led to a decline in revenue and increased cost.

taking baozi group as an example, its operating expenses increased by 1 billion 331 million 400 thousand yuan in the 2013 fiscal year from 1 billion 246 million 700 thousand yuan in fiscal year 2012, an increase of 6.8% over the same period.

Less than P, the distribution expenses (mainly including rental costs, salaries and benefits, store and shopping expenses, depreciation expenses and advertising expenses) rose from 973 million 400 thousand yuan in fiscal 2012 to 1 billion 50 million 800 thousand yuan in fiscal 2013, or 8%, which was further higher than the 5.3% increase in the 2013 fiscal year. The proportion of distribution expenditure in retail sales also increased from 49.9% in 2012 fiscal year to 53.3%.

the increase in rental costs is a major reason for the increase in fees.

The rental cost rose from 431 million 100 thousand yuan in fiscal 2012 to 469 million yuan in fiscal 2013, up 8.8% from the same period last year, a 6.9 percentage point higher than the 1.9% increase in the 2012 fiscal year, and the share of rental cost in the fiscal year of 2013 increased from 22.1% in 2012 fiscal year to 22.1%.

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baozi group said that the increase in rental costs was due to the general upgrading of the retail store network to the high-end sector, including flagship stores located in the high-end shopping malls and the shopping lots, which led to higher rental costs.

the increase in the management of employees' remuneration and welfare costs is another major factor driving the increase in costs.

In 2013, the salary and benefits of baozi group's retail division employees increased from 197 million yuan in fiscal year 2012 to 212 million 600 thousand yuan, an increase of 8% over the same period last year, a 1.7 percentage point increase over the 6.3% growth rate in the 2012 fiscal year, 10.8% in the proportion of retail sales and salaries, and a slight increase of 0.7 percentage points compared to the 10.1% in 2012 fiscal year.

the depreciation expense that continues to expand also drives the distribution expenses to rise.

In 2013, the depreciation fee increased from 91 million 400 thousand yuan in fiscal year 2012 to 112 million 700 thousand yuan, up 23.3% compared with the same period last year. The proportion of depreciation expense in retail sales increased from 4.7% in fiscal 2012 to 5.7%.

Baoji group said that the main reason for the sharp rise in depreciation fees was that the Group invested more funds in decorating and fitting the stores to enhance the image of the stores.

in addition, the cost of shops and shopping malls also increases the distribution expenses.

In 2013, the cost rose from 89 million yuan in fiscal 2012 to 95 million yuan, up 6.7% from the same period last year. The proportion of retail sales increased from 4.6% in fiscal 2012 to 4.8%.

administrative expenditure is another major operating expense beyond distribution expenses.

salary and welfare of administrative staff is the largest expenditure in administrative expenses. It rose rapidly from 49 million 700 thousand yuan in fiscal year 2012 to 62 million 500 thousand yuan in fiscal 2013, up 25.8% from the same period last year. The proportion of total turnover increased from 2.4% in 2012 to 2.9%.

Baoji group said that the growth of the sector was mainly due to the need for more professional employees in the development and expansion of overseas markets.

by the end of 2013, the total number of employees in baozi group was about 5000, including total wages of employees, salaries and benefits, which amounted to 388 million 100 thousand yuan, up 8.1% from 359 million 200 thousand yuan in the 2012 fiscal year, and the proportion of its total expenditure to the total sales volume of baozi group increased from 17.1% in 2012 to 18.2%.

The cost of "P" Langer shares continued to increase. In 2013, its sales cost was 390 million yuan, an increase of 53.89% over the same period last year, mainly due to the increase in the number of self operated stores and the increase in the number of marketing managers.

In 2012, its sales cost was 254 million yuan, up by 71.74% compared with the same period last year.

in the domestic women's clothing industry, such as baozi brand is a high premium brand, brand premium rate is usually more than 10 times, gross margin is as high as 80%.

But even a brand like this can not digest the continuous rise of operating costs, and the pressure of other brands can be imagined.

in addition, the electricity supplier impact, channel change intensification, and the mainland's advocacy policy against excessive consumption also have a considerable impact on the sales of high-end brands.

baozi group said that the mainland's economic growth slowed down in 2013, while the Chinese government implemented anti-corruption and advocated excessive consumption. This caused the luxury goods market in the mainland to be challenged and the consumption of luxury goods was impacted.

Data show that in 2013, the growth rate of luxury consumption in mainland China dropped from 7% in 2012 to 2%.

Kaiser shares said that in 2013, in the environment of domestic economic slowdown and low consumption, the growth of domestic clothing sales slowed down significantly, and the competition of multi-channel increased. Especially, the traditional clothing brand was under the impact of the electricity supplier, and the business situation was more severe.

Faced with such a severe economic and industrial environment, the company must accelerate pformation and upgrading.

"P >" Langer "said that since 2013, especially in the second half of the year, China's clothing consumption market, especially the high-end a href=" http://www.91se91.com/ "target=" _blank "brand clothing" /a "consumer market has encountered an unprecedented cold current. The high-end department store market has declined significantly, and the management pressure of high-end brand clothing enterprises has increased rapidly.

Especially in recent years, the rapid development of Internet technology has made more and more consumers shift from the traditional market to the convenient network market rapidly. The rapid expansion of the sales channels of textile and clothing network has a certain impact on the physical shops.

intensify the layout of e-commerce and acquisitions, expand diversified businesses and seek new profit points /p >

facing the grim situation, from the present perspective, the coping strategies of the 3 enterprises are mainly embodied in two aspects.

The most prominent point is to step up the layout of the electricity supplier.

2013, Kaiser shares expanded vip.com, Amazon and other e-commerce platforms on the basis of the original Tmall flagship store and independent platform, and online sales achieved rapid growth.

in fact, since the second half of 2011, Kaiser shares have launched an e-commerce project to operate Taobao flagship store and independent mall.

Relying on the brand effect of Kaiser, the young men's clothing brand KAISER PRINCE and young women's brand LUSEFA were also promoted.

In the first half of 2012, the company set up the Ministry of electronic commerce, intensified efforts to develop the electricity supplier mode, and gradually explored the online and offline brand operation mode.

Kaiser shares said that in 2014, it will increase investment in the electricity supplier, purchase or set up an electric business company, absorb the talents of electronic business, and make use of the support policies of the state to the electricity supplier, so as to accelerate the development of online business, and strive to make new breakthroughs in online sales.

"P", "Langer" shares are also accelerating the layout of the electricity supplier.

It points out that the basic trend in the future is online and offline integration, and more physical stores will become places of consumer experience, and more pactions will be realized in virtual space.

Facing the dual influence of consumption pattern change and international competition, the company will continue to increase investment in R & D design and online trading platform, constantly improve the supply chain system and management mode, and provide timely and high-end fashion clothes to meet the needs of consumers in the market.

its electricity business has also been laid out since 2011. In 2013, the electricity supplier accounted for about 15% of the total revenue.

However, according to a brokerage firm who went to the research group, at present, he has not yet decided whether to make an e-commerce brand in the future or to specialize in e-commerce products.

But judging by the agency, it is possible that this group will cooperate with the e-commerce brand to expand the market this year.

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"P", Baozi group also said that the next step would be to expand online sales as part of inventory management strategy.

Beyond P, investment and acquisition have become another focus for enterprises to seek breakthroughs, including interbank acquisitions, cross industry investment and acquisitions, and expanding diversified businesses.

P Kaiser has made many acquisitions in the past two years to expand its new business and enhance its competitiveness.

In August 2013, it announced the remaining 28% stake in Shantou, which is held in cash with 15 million 500 thousand yuan and pferee partner Xun Ying investment, and Shantou Xun Ying is one of Kaiser's garment production and processing bases.

In 2012, it bought a 51% stake in Yu Xin (Guangdong) trading company of the same industry for 60 million 900 thousand yuan.

"P", Langer stock is also trying to buy.

In April 29th this year, the shares were suspended due to major planning issues, but after "repeated consultation and communication demonstration between the two sides, they failed to reach an agreement on important matters in accordance with the stipulated time". They finally terminated and resumed their trading cards in May 15th.

According to a brokerage firm who visited the group, the suspension of the group was planned to buy a company, which was communicated with a company that was not a women's clothing industry. However, the price ended in the end.

The company has been looking for other M & A projects, but there is no suitable target.

as for diversification, Kaiser shares are typical representatives.

In 2013, it invested in Tianjin Binlian small loan and initiated the establishment of Shantou hi tech Zone Silver Xintong small loan Co., Ltd., and announced shortly before the price of 750 million yuan acquisition of popular game company Shenzhen cool cow interaction.

however, whether it is overweight electric business or to enter non related multi fields and expand new business, enterprises are only exploring stage, and its effect still needs market inspection.

Company Case .

2013 net store decreased by 40; Jiabao posture cautiously expanded

"P" has a number of fans in China and the main market for 30~40 mature women's market. The brand's "international standard" has been very strong.

Especially in 2011~2014, 4 years later, Baozi group was invited to publish works in Milan fashion week. Karen Mok and other movie stars went to the front to boost their popularity and international image.

But in fact, Baozi group's brand headquarters and factories are located in Xiamen, and its brand control is Kenneth Chan, a businessman in Hongkong.

baozi group takes the "baozi" brand as the main market in the mainland market, and pushes high-end brand "baozi 1961" in the overseas market, and distributes 4 brands of BMW < a href= "http://www.91se91.com/" target= "_blank" > dress < /a >, Armani's 3 series, VivienneTam and Ferrari clothing.

In 2000, Baozi was authorized by BMW to act as a distributor of BMW apparel brand in China, responsible for product design, production, marketing and so on. At the same time, men's clothing, bicycles and a small number of accessories were produced on OEM to supply the latter's overseas market.

In March 2008, Baozi signed a non exclusive distribution agreement with Armani group, distributing 3 series of Armani Collezioni, Emporio Armani and Armani Jeans in China.

In June 2008, Baozi and VivienneTam group set up a joint venture to distribute and promote VivienneTam brand in the mainland. Baozhuang accounted for 58% of the shares.

In 2009, Baozi signed an exclusive retail distribution license with Ferrari for 15 years.

mainland China is the largest and most important market of baozi group.

In Baozhuang group's total turnover of 2 billion 137 million 100 thousand yuan in 2013, the mainland market's revenue was 1 billion 971 million yuan, an increase of 1.39% over the 1 billion 944 million yuan in 2012, accounting for 92.23 of the total.

The income from other countries was 166 million yuan, an increase of 7.79% over the 154 million yuan in 2012, accounting for 8.4%.

in its total turnover, retail business turnover increased from 1 billion 951 million 700 thousand yuan in fiscal year 2012 to 1 billion 970 million 100 thousand yuan, an increase of 0.9% over the same period last year. The proportion of total turnover decreased from 93% in the 2012 fiscal year to 92.2% in 2013 fiscal year. The gross profit of retail business increased from 1 billion 677 million 500 thousand yuan in 2012 fiscal year to 0.9% yuan, and the gross profit margin was at the same level as that in the previous fiscal year.

other business turnover increased from 146 million 700 thousand yuan in fiscal year 2012 to 167 million yuan, an increase of 13.9% over the same period last year. The proportion of total business volume of baozi group rose from 7% in fiscal year 2012 to 7.8%.

The sales growth of the business mainly came from the revenue contribution of the wholesale business of eyewear and the increase of PORTS wholesale business.

The gross profit margin increased by 2.2% from 2012 yuan to 43 million yuan in the fiscal year of 42 million 100 thousand, and the gross profit margin decreased from 28.7% in fiscal year 2012 to 25.8%, mainly due to the increase in the revenue of the wholesale business of eyewear and the low gross margin of the business.

At the end of 2013, Baozi Group operates 352 retail outlets in mainland China, Hongkong, Macao, the United States and Canada, a net decrease of 40 compared to 392 at the end of 2012.

The decrease in stores is mainly due to the relocation of some stores and the cautious expansion of stores under unstable economic conditions.

baozi group said that despite the slight reduction in its store network, the company continued to focus on upgrading its stores, with a more attractive store layout and design based on a more high-end and superior location.

This strategy provides customers with a better shopping experience consistent with the standards of other top international fashion brands.

Baozhuang management said that the cautious strategy of store expansion will continue to take place in the next 2014 fiscal year.

In 2014, two flagship stores are expected to be opened in high-end shopping districts in Hongkong and Shanghai.

despite the sharp decline in profits and slow down in expansion, Baozi still has ample cash flow.

At the end of 2013, the net cash volume of baozi group increased by 129 million 300 thousand yuan to 1 billion 293 million 400 thousand yuan (including mortgaged bank deposits, time deposits, cash and cash equivalents).

Sufficient cash flow is enough to keep them seize investment opportunities, find suitable partners and expand business.

At present, Baoji group's new office headquarters in Xiamen has been put into operation, and its manufacturing process and retail distribution capabilities have been upgraded.

"P >" baozi group "said that next efforts will be made to enhance the awareness and value of PORTS brand around the world.

The group has been invited to Milan fashion week in the past few years and has received a positive response, which greatly enhanced the confidence of brand development.

Next, we will take the initiative to explore distribution channels around the world, and expand online sales as part of inventory management strategy.

At the same time, it will continue to focus on potential opportunities, seek cooperation with other brands with the same vision, seek synergies and sustainable growth of < a href= "http://www.91se91.com/news/index_f.asp" > brand < /a >