Apparel Home Textile Industry Gradually Began To Reverse The Dilemma.

People's basic needs include "clothing, food and shelter" and are indispensable. The products of the listed companies can be classified as essential consumer goods.

Relatively speaking, performance has the characteristics of perennial stability.

Since 2018, under the background of certainty of market funds, A shares

The share price of listed companies involving "food and shelter" has increased significantly. The number of real estate developers representing "live" has increased by 9.89%, representing a 8.19% increase in the food and beverage sector representing "food", while the most representative airport shipping sector has increased by 5.37%, even though the class of highway bonds with the nature of bonds has increased by 3.47%.

However, as the most important "clothing" in everyday life, it is a completely different fate. This year, the home textile home plate has fallen by 0.37%.

Over the past few years, the whole

Home textile plate is affected by low downstream demand and high inventory.

In 2015, it fell by 10.27% in the whole year and 30.10% in 2016.

The median price earnings ratio of the whole plate has also decreased from 68.03 times at the end of 2015 to 37.17 times at the end of 2017.

It is gratifying to note that the situation in the whole industry has been gradually reversing since the second quarter of 2017.

According to the world clothing shoes and hat net, Wind data show that in the first quarter of 2017, 53 apparel home textile listed companies accumulated a net profit attributable to shareholders of the parent company (net profit) of 4 billion 604 million yuan, down 13.58% compared to the same period last year, but in the two quarter, the company achieved a total of 4 billion 357 million yuan in the single quarter. In the first half of the year, the total realized 8 billion 961 million yuan, an increase of 6.23% over the previous year. After entering the three quarter, the profitability of the plate company was further improved, achieving a total of 12 billion 329 million yuan, an increase of 7.06% over the same period last year.

53 apparel home textiles listed companies 17 years ago three quarter net profit year-on-year growth

From the 33 listed companies that have announced the 2017 performance forecasts, 24 have achieved year-on-year growth.

Moreover, judging from the current growth rate of net profit of the broker dealers in 2018, the median of the whole garment home textile plate reaches 22.17%, which further confirms the prosperity of the industry.

A significant improvement in the performance of industry companies does not match that the valuation of the sector has not been repaired yet.

Wind data show that the current plate forecast for 2018 the median of PE is 20.56, the prediction of PE of 19 companies is even less than 20 times, and has the obvious advantage of valuation depression.

Data source: Wind, which shows only 18 years' prediction of PE below the median of PE in the industry.

603877.SH is a retail oriented multi brand.

The clothing company mainly provides high quality fashion clothes at medium price.

In the evening of January 8th, Taiping bird released a notice of earnings growth: in 2017, its operating income reached 7 billion 290 million yuan, an increase of 15.4% over the same period last year, with net profit of 473 million yuan, an increase of 10.7% over the same period last year.

From the performance forecast, the company's recovery in the fourth quarter of last year was obvious. The operating income in the single quarter was 2 billion 980 million yuan, an increase of 24.7% over the same period last year. Net profit was 300 million yuan, up 60.5% over the same period last year.

In the first three quarters of 2017, the company's single quarter operating income grew by only 11.5%, 14.2% and 4.5%, and net profit growth was only -4.6%, -56.7% and -20.3%.

The reason for the achievement reversal of the Pacific bird mainly comes from two aspects: on the one hand, the company's net interest rate was lower in the first three quarters of 2017.

In the four quarter, the net interest rate of the company rose from 10% to 10% before the fall of the burden was eliminated. On the other hand, the "four wheel drive" channel continued to optimize, ensuring that the company's future performance is expected to achieve steady growth by achieving the goal of younger target groups, expanding children's wear and MG women's wear brands, continuously selling online sales, and joining Lok Chai women's clothing.

The gradual elimination of the impact of inventory impairment losses superimpose the reasonable channel strategy of Companies in the context of consumption upgrading, which is expected to enhance the company's future performance elasticity.

603808.SH's main business is the design, development, production and sale of women's garments. Since its establishment in 1996, the company has always positioned high-end women's clothing.

Since 2016, through the acquisition of Ed Hardy, Germany Laurel, France IRO and the Vivienne Tam brand, the company has achieved the strategic goal of creating the international high-end fashion group.

From the three Quarterly Bulletin released before the song, the business revenue reached 1 billion 379 million yuan, an increase of 101.91% over the same period last year, and net profit of 202 million yuan, an increase of 124.25% over the same period last year, exceeding the market expectation.

The reasons for this success include the continued growth of the company's main brand ELLASSAY, operating income of 647 million yuan, an increase of 24.63% over the same period last year, which was further accelerated compared with the semi annual data (13.98%), while the gross profit margin increased by 1.32 percentage points over the same period, and the momentum was strong.

In addition to the strength of the main products, the strong integration ability of George's is also worth investors' attention.

The number of EdHardy stores increased from 94 in the first quarter of 2016 to 137, and in the first half of 2017, the sales increased by nearly 300% in the first half of 2017, and the number of LAUREL stores increased from 6 to 29 in the first half of the year. The sales in the first half of 2017 increased by nearly 10 times. According to the survey data of the market participants, the number of newly opened 29 stores reached 267 million yuan.

At present, the listed companies of garment home textile plate are gradually getting rid of the predicament caused by the impact of ultra high inventory, and the profitability of the industry has gradually improved. The corresponding valuation level has not received the attention of the market, and the valuation depression is more obvious.

In the environment of market pursuit of performance certainty, the stock price of related listed companies in the future plate is expected to usher in value repair or even revaluation, which is worth investors' attention.

More interesting reports, please pay attention to the world clothing shoes and hats net.