"Shoes Shoes King" BELLE Moves To "Sports"

"Shoe king"

(1880) in the medium term, nearly 4% earned more than market expectations, accounting for more than half of the revenue.

Business continued to be weak, it is necessary to offset the decline in the sports apparel business with low gross profit margin, and the growth momentum is a big sticking point.

Chief executive Sheng peppers anticipate future movement

There are more than half of the business revenue, but footwear business is always the main business.

BELLE's own brand BeLLE pulled back from the port last month. Sheng Bai Chai, who was directly under the rectum, said that the location of "slightly old-fashioned" was not in line with the Hongkong market.

Driven by performance, BELLE's shares rose 6.06% in the past month, and the number of sports shoe stocks also benefited. Anta (2020) hit a 52 week high of 8.66%.

Sales of footwear made mainly of rework shoes fell 5% in the first half of the year, while the number of units sold in the same store fell. On the contrary, sales of sports and clothing increased by 16.1%, to 49.2% of the total revenue, and half of the footwear business.

Mid term earn 4% wins

Sheng Bai pepper does not deny that the market space for shoes in the mainland will only become narrower. It is expected that the same store sales will not improve substantially in the second half of the year, but according to past experience, sales performance will be better than that in the first half.

The group has set up a separate business unit for sports and clothing products. Sheng Bai Jiao says it will not control the sales of various businesses, depending on the market reaction.

Although the mainland economy is facing downward pressure, it is believed that it is still favorable to the consumer market based on the rising public incomes.

"Not the same thing about BeLLE".

It is widely speculated that the completion of BeLLE's whole line is due to the difficulty of fighting the rent in Hong Kong. Sheng Bai Jiao yesterday's performance would refer to the excessive interpretation of the media. It has never been optimistic about the development of BeLLE in Hongkong.

At first, it was suggested by investment banks to do this in order to improve the popularity of listed companies. For many years, though they did not make money, they did not eat money. "I am not at all serious about such shops."

He jokes that if a shop does not share the same name as a listed company, such as "Li Bai", no one will care.

At present, about 5% of BELLE's revenue comes from Internet sales. In May, it said that it had finally seen a few months after seeing the development of the electricity supplier, but it still did not think of a definite plan.

He pointed out that for the time being, he wanted to increase the contact with customers through electricity providers, and to help product development and operation with big data.

The depreciation of RMB (6.356, -0.0028, -0.04%) is not easy.

In the first half of the year, the RMB exchange rate was reduced by 65 million 800 thousand yuan due to the depreciation of the renminbi. Sheng Bai Jiao described it as a hit and a blow.

He pointed out that he intended to earn interest on deposits between the mainland and Hongkong, and he could earn a good exchange rate if he lost his fortune.

In the second half of the year, there has been no loss of exchange, and Sheng Bai Chi is self mocking "not very smart, but just a shoe salesman". 7.75002,0.0002,0.00%

BELLE has different views on its performance.

Deutsche Bank reported that BELLE's sales revenue was in line with expectations, and net profit was higher than expected, giving a "buy" rating with a target price of 11.9 yuan.

Barclay refers to the uncertainty of footwear products to BELLE. It also takes into account the brand positioning to deal with online competitors, as well as the growth of footwear products in the mainland, so the "big city synchronization" rating is set at a target price of 9.5 yuan.

Driven by performance, BELLE's stock price hit a 1 month high yesterday, closing at 7.7 yuan, up 6.06%, closing 66 million 90 thousand shares and involving HK $510 million.

Footwear stocks such as Anta (2020) and XTEP (1368) also benefited from a rise of 8.66% and 0.25% respectively.

Women's shoes Daphne (0210) fell 7.43%, a month low.