Lies Dan Group Self Retail Business Total Sales Fell 10.2% Year-On-Year

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The market has been hit by performance, Le saunda

Second, the quarterly performance of the financial sector continued to decline. As of the end of August, the group's self retailing business fell by 10.2% compared with the same period last year, while the same store sales fell 9.9%.

At present, the group has 836 retail outlets in the mainland, Hongkong and Macao, a net decrease of 47 over the same period last year.

Lies Dan announced earlier that executive director and chief executive Liu Shunhui resigned on August 31st for personal reasons. The group is looking for alternatives.

It is worth noting that Lies Dan

Total sales fell by 7.2%.

As for the reason, Liu Shunhui said earlier that more overseas brands to China to open e-commerce business, so that the group needs to strengthen the promotion of e-commerce, but the group found that the rate of return on electricity providers is not high, so in the second half of last year began to reduce promotional expenses, so that the growth of electricity providers slowed down, the future will be more cautious in the promotion of e-commerce investment.

By the end of February, Lies Dan recorded 1 billion 621 million yuan in revenue last year, down 3.7% year on year, and net profit plunged 35.5% to 122 million yuan.

The group pointed out earlier that this year is still a difficult year, and will reexamine the scale of shops in the future, and will close some potential shops in China.

Last year, group same store sales fell 8%, down 4.2% in the first half and 11% in the second half.

In Hong Kong and Macao areas, because of the continuing difficulty in retail sales in Hongkong and no sharp reduction in rent, it is expected that the number of Hong Kong and Macao branches will be maintained between 10 and 13 this year, and 8 branches have been closed last year.

By the end of the press release, Lies Dan's share price has fallen more than 45% in the past year, and the group's market value is HK $1 billion 136 million.

Due to the weakness of domestic retail sales and the impact of e-commerce, the shoe brands in China have been caught in the bottleneck of development, and many brands have plunged into the throes of strategic adjustment.

BELLE released its operating data for the second quarter of this year and sales of footwear business fell by 10% compared with the same period last year. This is also the tenth consecutive quarterly decline in footwear sales since the fourth quarter of 2014. The company closed 276 stores in the quarter.

In 2013, the market value of former shoe king Daphne exceeded 17 billion yuan in 2013, but in three years, its market value plummeted to 1 billion 700 million.

According to public information, since 2015, Daphne has closed 1277 stores, and in 2015 the group also suffered its first loss in 10 years, with a loss of HK $379 million.

In addition, the market downturn makes it difficult for foreign shoe brands to be independent. There is news that Nine West Sycamore Partners, the brand of women's shoes, plans to liquidate the brand.