La Natsu Bell O Declared A Sharp Increase In Fees And Did Not Prevent The Main Industry From Declining. The Loss Of Non-Profit Was More Than 200 Million.

In the second years of listing, La Natsu Bell, a women's clothing company, has been caught up in the promotion of Guang Xuan and its performance has changed greatly.

In April 11th, La Natsu Bell Hussein's 2018 annual report received the inquiry letter of the Shanghai Stock Exchange. Behind it was La Natsu Bell's nearly 70% increase in the publicity fee last year, but the main business was declining.

A big loss in the following year

In March 29th, La Natsu Bell released an unsatisfactory annual report: in 2018, its operating income was 10 billion 159 million yuan, an increase of 13.08% over the same period last year. The net profit of the listed company was -1.60 billion yuan, a decrease of 132% compared with the same period last year. The net profit after deducting the net profit was -2.45 billion yuan, a decrease of 164.43% compared to the same period last year.

This means that La Natsu Bell, who was listed in September 2017, appeared in the following year's performance.

In 2017, La Natsu Bell's performance declined slightly, but after all, he made a profit of 499 million yuan and a net profit of 380 million yuan.

Behind the "big change" of performance, we can see from the 2018 annual report that La Natsu Bell's advertising and promotional expenses increased sharply from 27 million 279 thousand yuan in 2017 to 69.24% yuan to 46 million 168 thousand yuan.

On Friday, Datong securities analyst Liu Yunfeng told the public securities reporter that for the large consumption enterprises, Guang Xuan cost is an important marketing tool, but if the business operation problems or competitiveness is already bad, the high or soaring fees will not be able to return the profits and profits to the enterprises, but it will be easy to listen to the sway.

Therefore, whether Guang Xuan expenses can help enterprises' revenues and net profit growth can reflect the current situation and management level of enterprises.

The spread of fees has not stopped the main business.

Reporters further checked the annual report found that La Natsu Bell last year, the number of business outlets decreased by 179, and compared with last year, according to the total method of business revenue, or even year-on-year decline of 2.58%, sales gross profit 6 billion 648 million yuan, 427 million yuan lower than last year, the average gross profit margin from 67.73% to 65.33%, operating profit loss of 152 million yuan, net profit loss of 245 million yuan.

That is to say, La Natsu Bell's soaring publicity expenses failed to stop the declining trend of the main business.

La Natsu Bell's five largest women's clothing brand also sold poorly last year.

Last year's annual report shows that the company's five women's clothing brands achieved a total operating income of 8 billion 176 million yuan, down 470 million yuan, down 5.44%.

Among them, the two brands of LaChapelle and Puella were mainly due to the large number of counters and the decline of department stores. Sales revenue decreased by 11.94% and 13.35% respectively.

The sales revenue of LaBabit & 7m decreased by 1.26% and 0.68% respectively.

Only Candie 's revenue grew by 23.04%.

For the reasons for the increase in the ratio of sales expenses, including the wide publicity fee, La Natsu Bell said in the annual report that the cost of amortization of long term amortization expenses, the cost of shopping malls and the cost of logistics pportation are mainly due to the promotion of online platforms.

On the decline in revenue, the company said it was affected by the slowdown in consumption and the decline in physical stores. For example, sales of Direct stores in the second half of 2018 were lower than expected, and the growth rate of online sales also dropped significantly. The department store's revenue continued to decline, such as the 4 billion 893 million yuan of department store counters in 2018, down 7.02% from the same period last year.

As for the decline in gross margins, the company said it was mainly due to the decrease in average sales discounts and the increase in the proportion of products sold in the quarter.

Profit growth of two companies in the same industry

However, the reporter noted that La Natsu Bell's Listed Companies in the same industry, Vigna S, has already issued the annual report last year. The revenue of the two companies increased by 13.10% and 20.34% respectively, while operating profit and net profit were increased by 29.22%, while the latter was 14.84%.

Unlike La Natsu Bell's gross margin, Lancy's shares and Vig Nash were almost unchanged from 2017, while Lancy's shares increased slightly by 0.6 percentage points, while Vigna S dropped slightly by 0.64 percentage points.

At the expense of Guang Xuan, wig nice was 48 million 55 thousand and 400 yuan last year, and was not much different from the 45 million 779 thousand and 900 yuan in 2017.

Last year, the price of 132 million yuan was increased by more than 1 times compared with the 54 million 457 thousand yuan in 2017.

However, judging from the cost of sales, La Natsu Bell was the highest last year, which was 64.75%, significantly higher than that of Vigna S and 57%.

On Friday, the General Securities News reporter on the company's total revenue and gross profit margin confirmed by the total method decline, operating profit, net profit deduction for second years, why the loss of mutation, and the wide publicity fee increase but failed to effectively promote the cause of income and net profit growth and other issues call Baer, but the company phone no answer.