Earth Element 2018 Earnings Interpretation: Three Key Elements Of Single Store, Gross Profit And Subsidy

Di Su fashion (603587) announced the 2018 earnings report, the company achieved annual revenue of 2 billion 100 million yuan, an increase of 7.94% over the same period, the net profit to the parent was 574 million yuan, an increase of 19.59% over the same period.

In 2018, the consumption of clothing industry increased steadily, and the profitability gradually increased.

According to the National Bureau of statistics, from 2018 to December, the total retail sales of consumer goods amounted to 38 trillion and 100 billion yuan, an increase of 9% over the same period last year, of which the retail sales of Enterprises above Designated Size (unit) amounted to 13 trillion and 610 billion yuan, up 5.7% from the same period last year. Under the subdivision, 1 trillion and 370 billion yuan of clothing, shoes, hats, needles and textiles increased by 8% over the same period last year.

Located in the middle and high-end brand positioning, DSU fashion company founded three women's clothing brands including "DAZZLE", "DIAMOND DAZZLE" and "dzzit", and launched the men's wear "RAZZLE" brand in the second half of 2017.

From the earnings report, we can see that the main brand DAZZLE women's clothing contributed 1 billion 230 million, an increase of 7.15%, and the second was dzzit contributed 684 million of revenue, an increase of 6.88%.

The third place is DIAMOND contributing 170 million, an increase of 14.77.

Menswear RAZZLE contributed 9 million 200 thousand revenue, an increase of 241.75%.

It is worth noting that

DIAMOND only 53 stores contribute 170 million

Four brand data to see single store contribution (including online), DAZZLE single store flat contribution 2 million 10 thousand, dzzit single store draw 1 million 787 thousand.

It is worth noting that the brand DIAMOND has only 53 stores, and the single store flat contributes 3 million 210 thousand, ranking first.

Although men's clothing increased by more than 200%, the average RAZZLE store was only 708 thousand.

DIAMOND from the single store contribution and growth rate, is the top of its women's clothing category.

Another listed company, La Natsu Bell's annual revenue of 10 billion 180 million, the number of stores is 9269, La Xia is the whole direct camp mode, the contribution of single store in 2018 is 1 million 98 thousand.

There are also recent interpretation of Ke Eli Till's single store data. In 2018, the 641 main outlets that brought more benefits to Ke Eli Till contributed 2 billion 44 million, accounting for 81%. If it was assigned to a single store, it would be about 3 million 200 thousand.

In terms of fashion, it sold 1 billion 840 million in 2018, 1062 in offline stores, and 1 million 732 thousand in 2018.

Apart from direct outlets and distribution stores, there are 910 million outlets and 378 stores in 2018. The stores are all 2 million 408 thousand yuan.

There are 930 million outlets, 684 stores, and 1 million 359 thousand stores in 2018.

Direct selling gross profit 77.7%, distribution shop gross profit 69.7%.

From March 26, 2018 to March 28, 2019, the company and its subsidiaries received a government subsidy of 82 million 444 thousand yuan, of which the revenue related government subsidy amounted to 82 million 444 thousand yuan, which amounted to 10% of the company's latest audited net income attributable to the parent company's owners.

According to Euromonitor forecast, the retail sales of high-end women's clothing market in China will reach 178 billion 659 million yuan in 2020.

Women's constantly improving aesthetic concepts and consumption concepts are one of the important forces to promote the development of high-end clothing market in China. At present, the garment industry is still in the stage of pformation and upgrading. The high-end brands have more opportunities in the fierce market competition due to the needs of consumers in design, marketing and marketing.

In addition, in April 12th, di Su fashion announced the first quarter report in 2019. The operating income was 584 million yuan, an increase of 13.35% over the same period. The net profit attributable to shareholders of listed companies was 195 million yuan, an increase of 32.58% over the same period. Net profit attributable to shareholders of listed companies after deducting non recurring gains and losses was 160 million yuan, an increase of 12.18% over the same period last year.