Online And Offline Revenue Fell In The First Quarter, Taiping Bird Fell 35% In The First Quarter

In the first quarter, 603877.SS, which is trying to rely on Alibaba to expand its electricity business, has been extremely depressed. Its response to its changes has caused some waves in the social media, but it has little effect on the actual business, and has not been able to resist the impact of the industry's weakness.

In 1-3, the clothing company based in Ningbo plunged 34.90% to 86 million 590 thousand yuan in profit, compared to 133 million yuan in the same period in 2018. After deducting the profit, the main business profit was only 31 million 189 thousand yuan, down 65.37% from the 90 million 63 thousand yuan in the first quarter of 2018.

In the first quarter, Taiping bird began its strategy of closing stores, with 86 stores to 4508 stores.

The company said the move is a combination of the macroeconomic situation and market changes, and constantly optimizes the layout of the new four-wheel drive, focusing on improving the profitability of the stores and improving the quality of operations.

Net closing stores affected the Taiping bird's first quarter revenue decline of 4.46% to 1 billion 659 million 200 thousand yuan, compared with 1 billion 736 million 700 thousand yuan a year earlier.

During the period, the group's "tide brand" pformation made the vanguard of men's wear brand revenue 580 million 200 thousand yuan, plunged more than one to 11.64%, gross profit margin plummeted 304 basis points to 58.26%, while women's clothing business gross profit rate soared 560 basis points to 60.36%, stimulating the overall gross profit margin of the group clothing business rose 227 basis points to 57.59% in the first quarter.

Online and offline revenue declined in the first quarter, of which the first quarter of online revenue dropped slightly from 0.26% to 455 million 400 thousand yuan, with a net income of 1 billion 187 million 100 thousand yuan. The annual gross profit margin of online sales in the first quarter was significantly improved by 590 basis points to 41.65%, but still significantly below the gross margin of 63.71% below the line. In the first quarter, the gross profit margin of the Pacific bird clothing line rose by 130 basis points.