Data Comparison Of 15 Department Stores In The First Half Of 2016

In the first half of 2016, the global economic situation was unstable, and the main Fed's interest rate hikes were expected to disrupt the market environment.

The EU and the rest of the world are deeply affected by the economy.

According to the National Bureau of statistics, in 2016 1-6, the total retail sales of consumer goods amounted to 156138 billion yuan, an increase of 10.3% over the nominal period.

Among them, the retail sales of consumer goods above the quota reached 71075 billion yuan, up 7.5% over the same period last year.

In 1-6 months of 2016, China's online retail sales reached 22367 billion yuan, an increase of 28.2% over the same period last year. E-commerce still maintained a rapid growth trend.

According to the statistics of the China National Business Information Center, the retail sales of 50 key large retail enterprises in the first half of 2016 decreased by 3.1% year-on-year, representing a 4.2 percentage point decrease compared with the same period last year, and all categories of retail sales showed a year-on-year decline.

In contrast, the decline is two growth, one is the total volume of social zero is still growing, the two is the network.

Mobile shopping

The growth rate is still outstanding.

According to the statistics of the 15 department stores that have released earnings in August, 12 of them have declined in revenue, and only 3 have increased; while profits, 11 enterprises have dropped, and only 4 have increased; it is worth noting that both Xinhua and Kowloon warehouse are only 2 enterprises with double revenues and profits.

Below will list the data of these 15 enterprises, and the data from their published financial reports.

Comparison of financial reports of 15 department stores in the first half of 2016

Profits in the above data can be referred to the main part.

1, China 100 group: revenue fell 6.77% compared with the same period last year, and profit fell 201.85% year-on-year.

Revenue: 8 billion 23 million yuan, down 6.77% compared with the same period last year.

Profit: total profit of -0.54 billion yuan, a year-on-year decrease of 201.85%; net profit attributable to parent company -0.62 billion yuan, down 387.43% compared to the same period last year.

Board analysis: the reason for the decrease in profits during the reporting period is the decrease in gross profit and the rigid growth of costs.

By the end of the reporting period, the company's business outlets reached 1051.

During the period, 34 warehouses were closed (including 32 Chongqing community supermarkets), 211 stores (75 in Wuhan, 88 outside the city, 48 in Chongqing), 37 new stores in the 100 supermarkets, 20 stores, 810 stores (including 45 stores), a total number of stores in the department stores, and an electric appliance store.

From the perspective of regional distribution, the operating income of the Hubei market was 7 billion 855 million yuan, down 6.28% from the same period last year, accounting for 97.91% of the total revenue of the company, and the operating income of the Chongqing market was 168 million yuan, down 24.99% from the same period last year, accounting for 2.09% of the total revenue of the company.

According to the division of business, the supermarket realized 7 billion 462 million yuan of business revenue, accounting for 93.01% of the total revenue of the company, and the Department Store realized 572 million yuan of business income, accounting for 7.13% of the total revenue of the company.

2, 100 big group: revenue fell 6.98% year-on-year, profit reduced by 9.55%

Revenue: 493 million yuan, a year-on-year decline of 6.89%;

Profit: the net profit belonging to the shareholders of the listed company was 59 million 790 thousand yuan, 9.55% lower than the same period of the previous year.

Board analysis: in the first half of 2016, the company developed two core tasks around traditional business and pformation business, strengthened internal management, and explored the strategic pformation of big health.

Among them, the reason for the change in operating income is mainly due to the decrease in operating revenue of Hangzhou department store affiliated to the subsidiary company than in the same period last year.

3, Chongqing department store: revenue fell 6.78% year-on-year, profit fell 8.5%

Revenue: 18 billion 133 million yuan, down 6.78% compared with the same period last year.

Profit: total profit was 465 million yuan, down 8.50% compared with the same period last year; net profit attributable to shareholders of listed companies was 382 million yuan, a decrease of 8.97% over the same period last year.

Board analysis: revenue reduction is due to the impact of electricity suppliers and shopping centers, resulting in passenger traffic continued to decline.

In addition, the group also explained the main business sectors.

Department store format: department store format is divided by online shopping and shopping center competition, passenger flow decreases, sales revenue decreases year by year.

The department stores changed their marketing methods, strictly controlled and reduced the proportion of coupons, and significantly reduced the promotional expenses compared with the same period last year.

Supermarket sales: cigarette sales accounted for the current period, the sales revenue of supermarkets increased slightly.

Gross profit margin was increased by gross profit margin of rice, oil and other food, daily general merchandise and toiletries, and the gross profit margin increased slightly.

Electrical appliance format: the demand for electrical appliances decreased, and sales revenue declined year by year.

The contract policy has improved compared with last year, while strengthening the cost control and control, and the gross profit margin of electrical appliances increased year by year.

Auto trade format: competition diversion and suspension of business outlets, sales revenue fell.

Gross profit margin declined slightly as compared with the previous year.

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4, Xinhua capital: revenue grew 1.80% year-on-year, gross profit grew 1.12%

Revenue: 3 billion 395 million yuan, an increase of 1.80% over the same period last year.

Profit: consolidated gross margin of 22.09%, an increase of 1.12% over the same period, and net profit attributable to shareholders of listed companies 48 million 720 thousand yuan, an increase of 304.63% over the same period last year.

Board analysis: in recent years, the company's economic downturn, weak demand, sustained anti-corruption, electricity supplier impact and other factors, coupled with the failure of foreign business development, seriously dragged down the company's performance.

Since 2015, the company has implemented a two wheel drive strategy of capital and capability.

On the one hand, the use of capital platform mergers and acquisitions, during the reporting period, the company has completed a wholly-owned acquisition of long love and long love Tianjin, Luzhou and three electric business operation service enterprises.

On the other hand, we should pay attention to tap the internal potential, focus on the growth of core strengths, expand the regulatory model to benefit growth, and realize the pformation and upgrading of the company's business.

During the reporting period, the consolidated gross profit margin was 22.09%, an increase of 1.12 percentage points over the same period, mainly due to the promotion of fresh goods sales and gross profit promotion.

The following are gross profit margins for major commodities:

Fresh class 10.16%, food 18.79%, daily necessities 19.49%, department stores 18.01%.

The company has 3 new stores.

By the end of the reporting period, the total number of stores was 129, including 120 supermarkets and 9 general merchandise stores.

5, bu bee lotus: revenue fell 3.2% year-on-year, net loss of about 63 million 900 thousand yuan.

Revenue: 5 billion 320 million yuan in the first half, down 3.2% compared with the same period last year.

Profit: gross profit 893 million yuan, decrease 2.6% compared to the same period.

The net loss attributable to shareholders of the company was about 63 million 900 thousand yuan, a profit of 32 million 900 thousand yuan in the same period last year.

Board analysis: the main reason for the decrease in revenue is 6.5% year-on-year sales decline.

In addition, the sales volume of non food items is not good, sales of clothing, furniture, electronic products and personal care products are reduced by 3.6%, while sales of fresh categories have increased by 2.6% because of reduced costs.

During the reporting period, as of June 30, 2016, there were 60 retail outlets, including 59 large supermarkets and 1 supermarkets, with a total sales area of about 500000 square meters.

6, big business shares: revenue fell 8.70% compared to the same period, the profit decreased by 15.82% over the same period.

Revenue: 15 billion 97 million yuan, down 8.70% compared with the same period last year.

Profit: gross profit amounted to 3 billion 402 million yuan, a decrease of 6.41% over the same period last year; total profit amounted to 750 million yuan, a decrease of 15.82% over the same period last year; net profit attributable to shareholders of listed companies was 512 million yuan, a decrease of 16.69% over the same period last year.

Board analysis: the first half of 2016, the new normal market situation is still grim, the company is still facing the diversion of electricity providers and some of the industry's disorder competition pressure.

The decline in revenue was mainly affected by the economic situation and the market environment, resulting in a year-on-year decline in operating income.

In the second half of the year, the company will integrate regional resources, accelerate the integration on offline lines, standardize and beautify the appearance of shops, optimize the management system, improve the quality and effectiveness of operation and management, and accomplish various operational indicators.

In addition, the gross sales rate of the company's department stores was 16.97%, an increase of 0.04% over the same period last year, and the gross profit margin of the supermarket was 11.03%, up 0.17% from the same period last year. The gross profit margin of the home appliance chain format was 11.64%, an increase of 2.22% over the previous year, and the gross profit margin of other formats was 19.56%, down 8.97% from the same period last year.

7, Wuhan Wu Shang: revenue decreased 4.46% compared to the same period, net profit increased 18.22%

Revenue: 8 billion 588 million yuan, down 4.46% compared with the same period last year.

Profit: total profit 690 million yuan, an increase of 16.82% over the same period; the net profit attributable to the parent company was 515 million yuan, an increase of 18.22% over the same period last year.

Board analysis: in the first half of the year, the adjustment of retail business in the first half of the year was mainly in the following 6 aspects: (1) the comprehensive strength of Moore city; second, the dominant position of the regional market; 3. The new shopping center; 4. The economic efficiency of the hypermarket company; 5. The customer service complaint platform helps the service; and the supply chain management.

In the first half of this year, 5 stores were pulled out, and 27 stores were reduced to rent reduction agreements.

As of August 20th, there were a total of 79 stores.

8, Hefei department store: revenue fell 0.64% year-on-year, operating profit rose 16.13%

Revenue: 5 billion 178 million yuan, down 0.64% compared with the same period last year.

Profit: operating profit of 312 million yuan, up 16.13% year-on-year; total profit 320 million yuan, up 14.12% compared with the same period last year; net profit attributable to the parent company was 184 million yuan, up 4.99% over the same period last year.

Board analysis: during the reporting period, in terms of structural reform, the supply chain space was excavated in the chain of consumer goods, and the department stores accelerated the pformation from joint operation to self run and direct battalion. Self gold jewelry and self-employed women's clothing were introduced to achieve new breakthroughs in category management. In addition, the company launched the "three self" (self mining, self owned, self owned brand) mode, and the total sales of "three self" products totaled 410 million yuan during the reporting period, up 14.5% over the same period.

In addition, in terms of innovation, the company conducts cross border O2O format mode and innovation in all channel area development.

9, Golden Eagle Business: revenue fell 4.6% year-on-year, revenue grew 5.6%

Revenue: 8 billion 15 million yuan, down 4.6% compared with the same period last year.

Profit: revenue 2 billion 152 million yuan, an increase of 5.6% over the same period; the company owner should account for 229 million yuan profit.

Board analysis: in the first half of the year, the company introduced a new consumption experience format, enriched the commodity structure, and deep cooperation with the high quality brand supply chain, extended to the industrial chain longitudinally; cross-border cooperation, the theme business + sharing office.

In the second half of the year, Golden Eagle business will open a new Suzhou high tech life center with a building area of 170 thousand, and a Xi'an Qujiang life center with a construction area of 50 thousand.

In addition, Jinying commercial Shanghai store, Nantong people's Road store and Wuhu new city center store will also open in the second half of the year after precise positioning and optimization adjustment.

10, Yintai business: revenue fell 3.2% compared with the same period last year, and profit decreased by 21.3% compared with the same period last year.

Revenue: 8 billion 352 million yuan, down 3.2% compared with the same period last year.

Profit: the profit attributable to the parent company should be 561 million yuan, a decrease of 21.3% compared to the same period last year, and the net profit of the joint venture company was RMB 169 million yuan, a decrease of 6.3% compared to the same period last year.

Board analysis: the reduction is mainly due to the following factors: (1) there is no such recognition as the first half of 2015 that the proceeds from the sale of joint venture rights are about 189 million yuan; second, compared with the same period last year, the revenue generated by the sale of Affiliated Companies was reduced by about 24 million yuan; third, in the first half of 2016, the loss of foreign exchange risk of hedge dual currency loans was confirmed to be RMB 42 million yuan; and the sales of the same store from franchised sales and direct sales decreased by 4.1%.

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11, Guang Bai shares: revenue decreased by 6.71% compared to the same period, and profits fell 30% over the same period last year.

Revenue: 3 billion 522 million yuan, a year-on-year decrease of 6.71%;

Profit: the total profit is about 113 million yuan, a decrease of 30% compared with the same period last year. The net profit of the shareholders belonging to the listed company is 89 million 435 thousand and 600 yuan, which is 28.20% lower than that of the same period last year.

Board analysis: during the reporting period, the main work of the company is as follows: 1. Transformation and innovation, and strive to enhance the stock of operational power and excellent enterprises; mainly in the successful implementation of cooperation projects with "Jingdong home", speeding up the pformation and upgrading of department stores to the complex, and innovating marketing to seize market share, such as promotion and brand marketing activities.

Third, pform thinking and actively optimize the management mechanism, mainly in accelerating the reform of the Ministry System and strengthening the individualized service of suppliers.

12, Gao Xin retail: revenue grew 4.4% year-on-year, net profit fell 2.7%

Revenue: 52 billion 943 million yuan, an increase of 4.4% over the same period last year.

Profit: net profit of 1 billion 461 million yuan, down 2.7% compared with the same period last year.

Board of directors analysis: cautious shop, continuous improvement of new formats and regional integration initiatives; during the reporting period, Gao Xin group opened a total of 12 new comprehensive stores, including 1 new stores in Europe, and 11 new outlets.

By the end of June, there were 421 comprehensive hypermarkets in the country, of which 9% were located in first tier cities, 17% in second tier cities, with a total construction area of 11 million 385 thousand square meters, of which 68.8% were rental stores, 30.9% were private property and 0.3% were contracted shops.

13, Kowloon warehouse group: revenue grew by 11.8% compared to the same period, and profit increased by 8% over the same period last year.

Revenue: HK $20 billion 21 million in the first half, an increase of 11.8% over the same period last year.

Profit: operating profit amounted to HK $8 billion 75 million, an increase of 8% over the same period last year.

Board of directors analysis: Hongkong's retail value index continued to slow down. It has been decreasing year-on-year since 2015. The decline has continued to expand, and retail sales have gone bad.

Hongkong's tenants in the first half of the group declined 15% year-on-year, down by 11% over the same period in Hongkong.

Group tenants are mainly high-end retail brands, so the impact is greater.

The vice chairman of the group said at the performance meeting that from the 6 and July data, the number of high-end retail brands of tenants has been reduced by 10%, but the market has increased by 10% in the same period, so the total sales have not declined.

The data made her feel that the high-end retail market has already bottomed out, and the second half of this year will continue the good momentum.

But we think sales in the second half or 2017 are still grim, so the rent growth will slow down and the overall rental revenue growth will slow down.

To sum up, we can see that most enterprises summarize the causes of the decline in performance and refer to the pains of the diversion of e-commerce and the pformation of business.

Over the past few years, we have seen the hard operation of the entity business under the impact of the electricity supplier. We also see their determination and initiatives to actively seek pformation.

One of the phenomena that we can see from the development of retailing today is that when business is gradually entering new formats, the boundaries between online and offline are blurring, and cooperation is becoming more and more close. The case of entities and electric business enterprises is everywhere. Perhaps this is the law of Commerce. When the entity meets the Internet, the next wave of traditional retail pformation may be on the way.

14, Parkson Commerce: revenue fell 12%, down 7.2%

Revenue: 8 billion 495 million yuan, down 12% compared with the same period last year.

Profit: the operating income was 2 billion 325 million yuan, down 7.2% compared to the same period last year; the profit attributable to the shareholders of the listed company was -1.24 billion yuan, and the loss per share was 0.047 yuan.

Board analysis: in the first half, Parkson commerce continued to promote pformation.

Launch a new retail concept with more diversified theme stores to bring a better overall shopping experience.

Meanwhile, the Qingdao Golden Lion Plaza, also a landmark of Parkson's commercial development, opened in June 18, 2016, which means that Baisheng group began to enter the Chinese shopping plaza market.

As a supplement to the Parkson website of group website, Parkson launched a mobile shopping app "Parkson mall" in June.

In the first half of 2016, Parkson closed two stores with poor performance as part of the management's continuous efforts to optimize the performance of the store network.

In order to expand the fashion and catering brands to continue to consolidate their products and services, Baisheng commercial HoganBakery, a brand flagship store opened in Taiwan, will open in the second half of 2016 at the new world of Shanghai tourism landmark.

At the same time, Parkson's first independent supermarket is scheduled to open in the next six months to further optimize the group's retail formats.

15, Beijing first business group: revenue decreased by 10.36% compared to the same period, and profit fell by 17.86%

Revenue: 5 billion 167 million yuan, a year-on-year decrease of 10.36%;

Profit: total profit was 304 million yuan, a year-on-year decrease of 17.86%; net profit attributable to parent company owners was 149 million yuan, a decrease of 11.46% compared with the same period last year.

Board analysis: in the first half of 2016, the overall prosperity of the traditional retail industry remained at a low level, and there was no obvious warming trend.

The company has mainly done the following 5 tasks: (1) optimizing the management structure; (2) enhancing customer attractiveness; (3) promoting the major adjustment and reform of the company; (4) promoting the company's innovation; and (5) fine management.

In addition, the main business of the first commercial shares is department stores, shopping centers, discount stores (Oteri J) and other retail formats, as well as brand agents, property leasing and other businesses, there are 17 existing stores, mainly in Beijing, Tianjin, Taiyuan, Lanzhou, Chengdu, Urumqi and other first and second tier cities.