It Is Also Of No Avail To Reduce The Expected Reduction Of China'S Proxy Power.

With the pressure of underwear competition getting bigger and bigger, though the longtime top is also hoping to go to another level. Recently, the first quarter earnings report released by Wei showed a competitive pressure.

It is reported that in the first quarter ended April 30, 2016, taylor swift The net sales of parent company recorded an increase of 4.1% to US $2 billion 614 million, compared with 2 billion 512 million US dollars in the same period last fiscal year. In addition, in the first quarter, the group's operating profit dropped to 13% US dollars to US $324 million, and last year's fiscal year was US $372 million. This is mainly due to the strengthening of the US dollar exchange rate and the cost increase in the first quarter.

During the first quarter, the virgin parent company Net profit It recorded a drop of 39.2% to $152 million, compared with $250 million in the first quarter of fiscal 2015. As a result, the group lowered its full year forecast to reduce the adjusted earnings per share range from 3.90 to 4.10 US dollars to 3.60 to 3.80 US dollars. Meanwhile, the two quarter earnings per share is expected to be between $0.5 and $0.6.

The group said that compared with the previous fiscal year, the challenges faced by the current fiscal year 2016 are more arduous, as well as Consumer The slump and the group adjustment strategy led to a slight decline in the annual income of the group in the current fiscal year 2016. Affected by the above news, the stock price of the parent company fell 1.59 to 63.78 US dollars.

In addition, the group has already withdrawn its right to operate in China, but the progress in its business in China has slowed down because of the decision to close the swimwear line. At the beginning of this year, Wei Ming opened the first inland flagship store in Shanghai.