Feng Xiaokai: La Natsu Bell, Who Lost 150 Million In 2018, Began The Franchise Mode.

In 2018, La Natsu Bell realized a business income of 10 billion 176 million yuan, a decrease of 269 million yuan from 10 billion 446 million yuan in the same period last year, down 2.58% from the same period last year. Net profit loss attributable to shareholders of listed companies was 156 million yuan, down 654 million yuan from the same period last year, down 131.24% from the same period last year. It is noteworthy that although La Natsu Bell recorded a net profit decline for three years in a row, it was La Natsu Bell's first net profit loss in 2018.

Year-round store sales profit double decline

Terminal retail sales declined, La Natsu Bell sales in the second half of 2018 straight stores did not meet expectations, and La Natsu Bell's gross profit decreased by 5% year-on-year. In addition, a series of initiatives taken by the company to enhance product strength, optimize retail channels and improve single store sales are not yet available in 2018.

La Natsu Bell's gross profit in 2018 decreased by 427 million yuan compared with that of the previous year. From the brand perspective, the sales revenue of the main brands LaChapelle and Puella decreased by 11.94% and 13.35% compared to the same period last year. The sales revenue decreased by 309 million yuan and 284 million yuan compared with the same period last year, while the sales growth of women's brand Candie's and children's wear and men's wear brands still can't make up for the decline of Lachapelle and Puella.

Focus on the 2018 half of the year, the channel slowed down

In 2015, the total number of outlets throughout the country was 7893, which increased by 20% to 9448 in 2017. The number of new stores was more than ten times that of Zara, and the total assets growth rate was 10 times more than that of 2015. In 2015, the total number of stores increased by more than 10 times.

Now. La Natsu Bell layout of the Department Store adjustment, passenger flow decline, leading to the company's department store counters accounted for a relatively high proportion of brands La Chapelle and Puella sales in 2018 dropped by more than 10%, while women's clothing brand Candie's and children's wear, men's wear brand sales growth can not make up for the decline of La Chapelle and Puella.

In 2018, La Natsu Bell's department store's revenue was 4 billion 893 million yuan, a decrease of 369 million yuan compared with the same period last year, a decrease of 7.02%, and its share of total income dropped from 50.38% last year to 48.08%.

It is interesting that La Natsu Bell opened shop in the first half of the year. The number of retail outlets in the first half of the year was 9674, and as of December 31, 2018, the number of outlets directly owned by La Natsu Bell was 9269. Although there were 179 fewer than 9448 in 2017, the emphasis was on reducing 405 stores in the second half of this year.

Mergers and acquisitions still lose money

Some of La Natsu Bell's investment cooperation brands are still in the initial stage of cultivation and development, and have invested heavily in product development, channel development and market promotion, resulting in a decrease of some 90 million yuan in investment income of some investment holding subsidiaries.

Mainly in the acquisition of NafNaf SAS, as of September 30, 2018, NafNaf SAS has 488 retail outlets in France, Spain, Belgium and Italy and other countries and regions, including 218 in France and 270 in other overseas regions.

NafNaf SAS's latest consolidated financial data in the latest year showed that its operating income in 2017 was 190 million euros, and net profit loss was 6 million 500 thousand euros. In the first half of 2018, its operating income was 89 million 890 thousand euros, and net profit loss was 3 million 420 thousand euros.

The costs continued to rise in 2018.

It must be noted that the sales cost of La Natsu Bell increased by 230 million yuan in 2018, of which the salesperson's salary and store expenses increased by 128 million yuan. At the end of the company, some of the losses and inefficient stores closed, resulting in an accelerated amortization of the cost of decoration. The sales cost was 96 million yuan, the management cost increased by 115 million yuan, and the financial cost increased by 36 million yuan.

In fact, under the multi brand management strategy, although La Natsu Bell's revenue grew in the past three years, the net profit continued to decline. Data showed that in 2016, 2017 and 2018 the company's net profit fell 13.54%, 6.29% and 29.85% respectively in the first three quarters.

On the whole, maintaining expansion is La Natsu Bell's development creed. Now the La Natsu Bell problem has broken out in the second half of the year. Sales decline and profits have fallen sharply. La Natsu Bell also has more than 400 closed down and low efficiency stores in the second half of the year. Another important thing to note is that La Natsu Bell, who has always been a direct battalion, has launched the cooperation mode of joint operation, joining and trusteeship.