New Opportunities For Domestic Department Stores

According to the world clothing shoes and hats net,

The retail sector is gaining momentum.

Among them, Zhong Bai group, Hangzhou Jie Bai and commercial city all set a new high in recent years.

Correspondingly, the fundamentals of the industry have improved significantly, and the listed companies in the industry generally show signs of improvement in income or net profit.

In July 11th, the 2017 annual semi performance forecast announced by Zhong Bai group showed that the company made a profit in the first half of the year, and expected to make 1.28-1.398 billion yuan, an increase of 305%-324% over the same period last year.

In July 14th, Yonghui supermarket issued a performance bulletin. In the first half of 2017, the company achieved operating income of 28 billion 317 million yuan, an increase of 15.49% over the same period last year, and a net profit of 10.51 yuan billion yuan, an increase of 56.94% over the same period last year.

Beyond expectations.

In July 17th, the new world disclosed its semi annual performance notice.

After preliminary calculation by the company's finance department, it is estimated that the net profit attributable to shareholders of Listed Companies in the first half of 2017 will increase by 1000%-1050% compared with 3240.91 yuan in the same period last year.

In July 27th, Lanzhou's 100 million announcement estimated that the company's net profit attributable to shareholders of Listed Companies in the first half of 2017 was about 81 million 282 thousand and 300 yuan, which will increase by 80% to 110% compared with the same period last year.

The company completed a major asset restructuring in the first half of 2017 and injected assets into Hangzhou North Rim silk.

The 100% equity interest of the city Limited has changed.

In this regard, the agency analysis that, as the first year of new retail sales, the biggest change in the domestic retail industry in 2017 is the birth of new retail species and new formats.

Under the exploration of online giants' new technologies, new ideas and offline businesses, China's retail department industry is expected to usher in a new opportunity for leapfrog development.

Galaxy Securities believes that the valuation of the department stores is low, and some companies still have a margin of safety. It is suggested that they should pay close attention to the leading companies that actively adjust their formats and improve their performance.

In 2017, driven by the trend of consumption upgrading, the department store industry is expected to continue the recovery trend since the second half of 2016. The improvement of profitability is expected to make the overall valuation more attractive.

In the exploration of investment opportunities, GF Securities proposed that the continuous promotion of the new retail mode is expected to bring about two kinds of investment opportunities, that is, the value revaluation of the retail leader and entity channel that has been effective in the whole channel pformation.

GF Securities recommendations: 1, the electricity supplier is still the most noteworthy area of the retail sector, and its scale of expansion will inevitably lead to the development of related industries in the industry chain, representing the company's Antarctic electricity supplier.

2, the new retail under the online and offline integration is the general trend of changes in consumption habits. Whether it is bound with giants or independent development, the core competitiveness factor still lies in the improvement of its operational efficiency.

The former represents the company's Su Ningyun business, Bailian shares and Sanjiang, which are deeply bound with ALI.

And so on; the latter represents the company's leading line companies with their own sense of change and strong operation capability, such as Yonghui supermarket, A, and Tianhong stock.

For companies involved in the reform, ajian securities advised investors to pay attention to the leading companies in the fast changing region, such as Shanghai, Guangdong, Tianjin, Chongqing, Shandong, Anhui and other major state owned retail enterprises, such as Bailian shares, Lao Fengxiang, Tianhong shares, Guang Bai shares, Ginza shares, Hefei department stores, etc., but some companies with low valuation, strong reform expectations and improved space, such as A, Chongqing department store and so on, are also not to be despise.

At the same time, the personage further suggested that investors fully understand that the regulatory authorities have been emphasizing the revitalization of state-owned assets through mergers and acquisitions to help state-owned enterprises reform, resolve excess capacity and the "zombie enterprise" market clearing spirit, and pay attention to some small capitalization of state-owned enterprise reform target companies, such as Jin Ye Ye, Lan Sheng shares and other enterprises with revaluation opportunities.

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