Can The US State Be "King'S Return" If The Market Shrinks?

Although the main business net profit has improved, it has been a fact that we have been unable to ignore the loss for three consecutive years.

"When the flowers are gone, the spring is gone, and the sky is on earth".

So did the 002269.CN in 2010. When the TV series "we came to see the meteor shower" in the north and south of the river, the women of the aristocratic family came to Metersbonwe to buy clothes. When the new clothes were on the top, a simple plain Chu Yu Ying stood in front of the mirror. "I don't know who the girl is inside." however, in the wave of consumption upgrading, the US state pformation was weak and gradually abandoned by the young people. The market quickly shrank and led to a sharp decline in performance.

Smith Barney continued huge losses in 2017

Founded in 1995, it is committed to creating a youthful, fashionable and popular casual wear brand for young people aged 16-25, with five brands, including Metersbonwe, ME&CITY, Moomoo, ME&CITY KIDS and CH'IN Kei.

In 2017, the performance of Smith Barney's clothing remained unchanged.

During the reporting period, it recorded a revenue of 6 billion 472 million yuan, a slight decrease of 0.72% over the previous year, a net profit of -3.05 billion attributable to shareholders of listed companies, a sharp decrease of -942.95% over the previous year, and a net profit of -3.21 billion excluding the non recurring gains and losses attributable to shareholders of listed companies, a loss of 518 million yuan compared with 2016, narrowing 37.98% compared with the previous year.

Although the net profit of main business has been improved, it is a fact that we must not lose sight of the loss for three consecutive years.

From the point of view of brands, there are still "circles" in 2017.

Metersbonwe brand direct sales revenue increased by 10% over the same period last year; ME&CITY brand achieved 24% year-on-year growth in terms of precision focus and high cost performance based on design and quality; the Moomoo and ME&CITY KIDS two children's wear brand businesses further clarified the complementary differential positioning, and achieved an increase of 41% in sales revenue through the end to end vertical management system construction; the overall development of Internet business has entered a benign track, and the state purchase, the whole network, and the fan through precise positioning have formed effective force points, and sales revenue has increased 72% over the same period.

However, it should not be overlooked that the company's pformation is still facing many challenges. The input value of core competencies such as products, channels, retail experience and so on has not been fully reflected in the market side, especially in the rapid pformation of direct pformation, while the performance improvement of franchising channels is still lagging behind.

By the end of 2017, the total assets of the company were 6 billion 187 million yuan, the total liabilities were 3 billion 45 million yuan, the owner's equity was 3 billion 142 million yuan, and the asset liability ratio was 49%.

However, from the first quarter performance of Smith Barney apparel in 2018, the input-output effect of many years is gradually reflected, and profit improvement is progressing.

Driven by sales, the US first quarter results continued to improve in 2018.

In 2018, the United States continued to continue its pformation direction in 2017, starting from the three directions of brand upgrading, innovation, channel layout and supply chain management, and enhancing the competitiveness of enterprises.

On the brand side, the United States has changed from a single leisure style to five styles. It has more diversified and individualized attitude towards the millennial generation. It also brings consumers multiple styles and one-stop shopping experience, so as to get closer to the upgrading needs of the new generation of consumers in China.

In terms of channel layout, the United States has released a brand new attitude and product competitiveness to the whole society. It has been widely recognized and positive feedback from all sectors of society, and brand influence has been significantly improved.

At the same time, the company is actively forming a comprehensive strategic cooperation with the famous shopping centers throughout the country, adding new wholesale and investment partnership shops, and upgrading product and retail capabilities further.

In addition, the company takes the huge growth space brought by the upgrading and rise of urban consumption, and applies the strategy of "100 cities and thousands of shops" + shopping centers in parallel development, with the competitive advantage of focusing on the core market development in recent years, to re-establish the development space opportunities of comprehensive coverage from the first tier cities to the county level towns.

Supply chain management: from details, through raw materials,

All aspects of garment optimization are integrated and integrated with supply resources, and the production process is monitored by the dual control system of the company and supplier to ensure product quality.

In terms of terminal supply, we need to further refine the demand for terminal market, produce and supply on demand, and ensure the flexible supply of goods.

We should strengthen the rapid response capability of the supply chain so as to enhance the accuracy, timeliness and effectiveness of the supply of brand products.

Three pronged approach, the first quarter of 2018, the performance of Smith Barney clothing again showed good signs of recovery.

During the reporting period, revenue was 2 billion 178 million yuan, an increase of 30.12% over the same period. Net profit attributable to shareholders of listed companies was 50 million, an increase of 74.21% over the same period. The net profit attributable to shareholders of listed companies was 47 million yuan, up 64.76% over the same period last year.

Driven by sales revenue, the net cash flow generated by Smith Barney clothing business increased by 81% over the same period last year.

Expect the first half of the performance, the United States also dress to

It conveys a welcome sign of turning losses into gains.

For this long double-digit growth, the United States

It's hard to say.

Whether it can continue and wait for follow-up observation.