Mei Bang Clothing Net Profit Reduction Channel + Children'S Clothing Multi Attack

In the evening of October 27th, the third quarter report of 2015 was released.

According to the financial report, the company's operating income in the first three quarters was 4 billion 328 million yuan, a decrease of 7.8% over the same period last year, and net profit attributable to shareholders of listed companies was nearly 177 million yuan, a sharp decrease of 178.12% over the same period last year.

Three the first trading day after the release of the Quarterly Bulletin, the United States has closed 6.63 yuan per share, or 5.29%.

It is worth noting that the United States financial report also made a loss of 300 million ~4.5 billion in the performance of 2015, which is expected to be interpreted by the company as "in 2015, the operation of the company's franchise channel is still lagging behind the direct channel, and the wholesale income has dropped to a certain extent, and the overall performance of the company will suffer losses".

In this context, the recent news of Smith Barney's recent development of children's clothing business has attracted more attention.

In this regard,

A well-known observer, Ma Gang, told reporters on twenty-first Century economic report: "in fact, loss is the main business problem. The main business is affected by the pressure of previous inventory backlog and shop contraction, which affects profitability.

More than 50% of the revenues in the main business of the United States are derived from the revenue of the direct store.

Loss of haze for a long time

In the long run, the United States has implemented the offline channel management mode of direct and franchisees, and is also an effective support for its continuous expansion of the chain monopoly market.

Why is it the main reason for the loss in the current report?

On the 28 day, in the interview with the twenty-first Century economic report, the United States costumes said that at the end of the three quarter, the inventory in the consolidated statements was 1 billion 832 million yuan, slightly lower than the 1 billion 895 million yuan in the same period last year.

"The end of the three quarter of each year has entered the peak value of the higher value autumn and winter clothing distribution, so the stock is always the highest in the year."

In addition, the proportion of direct battalion is larger, and inventory is more than the mode of joining. It is believed that the number of stocks will decrease with the sale of goods at the end of the year.

"For example, in the three quarter of last year, inventory was 1 billion 895 million yuan, and it fell to 1 billion 400 million yuan by the end of last year."

However, Ma Gang thinks: "theoretically, the profit of joining the channel is more substantial.

If the business of a direct store is seriously damaged, the profit will be rather bad.

The United States is actually a direct increase in inventory caused by shrinkage of shops. "

Zhu Qinghua, a light industry researcher at CIC, told reporters that in the first half of the year, Barrack's revenue grew, but its sales dropped by 20.51%.

"Product style, price and promotional activities are

It is difficult to coordinate the three channels of joining and direct operation, which has become one of the reasons for the development of the United States.

The reason why the outside world is so sensitive to its performance is mainly due to the continuous performance of the company over the past two years, and the concussion caused by the inventory turmoil does not seem to be far away from the company.

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Regarding the industry's various concerns, the US state side said, "the current mode of operation of the company will not be greatly changed, and it is still a parallel mode under the online and offline mode.

The direct operation and affiliate of the offline parts will be flexibly adjusted according to the different situations in different parts of the country.

Marching into O2O and children's wear to save themselves

The United States has launched a series of "fan" and "intelligent manufacturing".

The project is to raise funds to 9 billion yuan to the Internet pformation, "want to speed up the response of the supply chain, get the advantage of light channel and low inventory, but the effect is getting smaller, huge amount of capital investment is bound to have an impact on today's performance".

However, in Zhu Qinghua's view, traditional clothing will encounter product conflicts between online and offline channels in the process of pferring the electricity supplier, and make reasonable planning for the products.

"Before the development of the scale to expand blindly, now developing O2O to open experience shop is just a business mode instead of learning the essence of O2O: focus on user experience, provide users with personalized products and services."

At that time, the pformation plan of the 100 experience shops launched by Ma Gang seems to be "doing some big investments but not making money".

New projects, such as "norm", are also in the early stage of project investment, and in fact, there is no way to make profits.

"It is in the period of enterprise pformation, and output is not ideal, which is also the main reason for its loss."

On the other hand, 002563.SZ has opened up a new field in the field of children's wear. Its sales have exceeded about three billion yuan, and the United States has announced a new plan recently: "it is necessary to open the two major children's wear brands Moomoo and Mi Xidi's stores from 400 to 1000 in two years."

The new strategy of heavy punches also seems mixed.

"America's response to children's clothing market is too slow to leave them with little opportunity."

Ma Gang speaks frankly.

According to the latest data, the size of children's clothing market in China will exceed 140 billion yuan in 2014, and will maintain a high growth rate in the next few years.

With the relaxation of the second child policy and the upgrading of consumption, the development of infant industry is also promoted.

With the expansion of children's clothing market, the United States of America certainly saw this opportunity. In 2011, the children's wear brand Moomoo was founded. The products were mainly targeted at the demand of children aged 3-12, and they also tried to win a place in the field of children's wear.

In October 15th this year, Moomoo children's wear held a dream show in spring and summer in Shanghai.

According to Moomoo insiders, the growth of children's wear has been gratifying in recent years, the order volume has increased by more than 60%, and retail sales have continued to grow by 30%. The goal of market expansion is more than 1000 stores in the next two years.

However, how to use the experience of American brand operation to grasp market changes and consumer demand is still a difficult problem facing the United States and the state.