The Gap Is Approaching. First Quarter Performance Analysis Of Women'S Wear Listed Companies

In the first quarter of 2019, the performance of A shares women's clothing listed companies showed that the net profit of the 7 women's clothing listed companies had increased and reduced, and the gap between the enterprises was narrowing.

La Natsu Bell's revenue of 2 billion 372 million yuan

In the first quarter of 2019, La Natsu Bell realized operating income of 2 billion 372 million yuan, down 6.94% compared to the same period last year, and realized net profit attributable to shareholders of listed companies 9 million 751 thousand yuan, down 94.4% compared to the same period last year.

By the end of March 2019, the number of outlets in La Natsu Bell group was 7653, which was 1887 less than that of 9540 at the end of March 2018.

According to the brand, children's brand 8eM maintained a relatively fast growth rate, and its revenue grew by 30.64% over the same period.

La Natsu Bell said that the main reason leading to the decrease in the reporting period was the adjustment process under the company's accelerating line, closing down the loss and inefficient Direct stores to reduce the ineffective investment of resources. As at the end of March 2019, the number of outlets in the company was 7653, a net decrease of 1887 compared to the end of March 2018, and a decrease of 19.78% in the number of outlets. The main women's clothing brands La Chapelle, Puella, 7Modifier and La Babit were affected by factors such as the number of Direct stores, the decrease of terminal passenger flow and the increase in the sales of over season products. The income distribution in the first quarter decreased by 26.65%, 29.76%, 22.91% and 23.06%, respectively.

Net profit reduction is mainly due to the implementation of the new leasing criteria, resulting in a net profit reduction of 1168 million in the current period. If the factor is not considered, the net profit attributable to shareholders of listed companies will be 87.69% lower than that of the first quarter.

Revenue of 722 million yuan

In the first quarter of 2019, he realized operating income of 722 million yuan, an increase of 7.22% over the same period last year, and realized a net profit of 52 million 767 thousand and 400 yuan attributable to shareholders of listed companies, down 12.54% from the same period last year.

The main business of the company is women's clothing, baby, medical beauty, asset management four business systems. In the women's clothing market, the company has its own brand Lancy From 25, Rhine LimeFlare, Marie Marie n Mary, Li Ya LAN Zi Liaalancy, agent brand Mojo, S.Phine, JIT, Jigott, FabianaFilippi, and so on.

Vigna S's revenue is 688 million yuan.

Vigna S achieved operating income of 688 million yuan in the first quarter of 2019, down 8.71% from the same period last year, and realized a net profit of 13 million 290 thousand and 100 yuan attributable to shareholders of listed companies, down 79.59% from the same period last year.

By the end of March 2019, there were 1381 stores, including 152 VGrass stores, 1228 TeenieWeenie stores and 1 lucky cloud stores.

The company has three brands, namely VGrass, lucky cloud brocade and TeenieWeenie, with a VGrass revenue of 184 million yuan in the first quarter, down 12.24% from the same period last year, and lucky brocade sales revenue of 4 million 715 thousand and 600 yuan, down 1.64% from the same period last year. TeenieWeenie is the group's biggest contribution to its performance, with a quarter revenue of 498 million yuan, down 7.89% over the same period.

In addition, in the first quarter, the revenue of Wenna silk line was 85 million 764 thousand and 600 yuan, down 8.59% compared with the same period last year, and the revenue under the line was 602 million yuan, down 7.8% compared with the same period last year.

Grace revenue 623 million yuan

In the first quarter of 2019, he realized operating income of 623 million yuan, an increase of 8.32% over the same period last year, and realized a net profit of 89 million 163 thousand and 200 yuan attributable to shareholders of listed companies, an increase of 11% over the same period last year.

As of the end of March 2019, there were 591 stores in the company.

During the reporting period, it sold 545 million yuan under the song line, accounting for 96.22% of the total revenue, and online sales of 21 million 386 thousand yuan, accounting for 3.78% of total revenue.

Under the banner, there are 6 fashion brands: Ellassay, Laur L, Ed Hardy, IRO, Vivienne Tam, JeanPaulKnott, etc.

2019 in the first quarter, the main brand ELLASSAY business income was 253 million yuan, up 6.42% over the same period last year; Laurel income was 23 million 991 thousand and 600 yuan, down 8.91%; EdHardy and Ed HardyX revenue 124 million yuan, an increase of 6.19% over the same period; IRO (excluding China) revenue 144 million yuan, an increase of 2.09% over the same period, IRO in China's revenue 16 million 808 thousand and 100 yuan, an increase of 270.74% over the same period; the income of 16 million 808 thousand and 100 yuan, an increase over the same period.

The IRO and VivienneTam brands have been developing rapidly in the reporting period, and their performance has been growing rapidly. The IRO brand is mainly distributed in the world, and its gross profit margin of distribution business is slightly lower than that of other brands of the company.

Earth element fashion revenue 584 million yuan

In the first quarter of 2019, the company achieved 584 million yuan of business income, an increase of 13.53% over the first quarter, and a net profit of 195 million yuan attributable to shareholders of listed companies, an increase of 32.58% over the same period last year.

As of the end of March 2019, there were 1048 stores in di Su fashion.

The four brands of DAZZLE, DIAMONDDAZZLE, d 'zzit and RAZZLE are now available in DAZZLE, which has achieved a profit of 335 million yuan during the period, an increase of 12.83% compared with the same period last year, DIAMONDDAZZLE revenue of 48 million 603 thousand and 500 yuan, an increase of 14.77% over the previous year, and d' zzit revenue of 194 million yuan, an increase of 15.09% over the same period. The September 2017 men's brand RAZZLE revenue was 4 million 595 thousand and 700 yuan, up 0.28% over the same period last year.

In addition, in the first quarter of 2019, the sales volume of the fashionable fashion line was 70 million 932 thousand and 400 yuan, an increase of 24.99% over the same period, and sales of 511 million yuan under the line, an increase of 12.21% over the same period last year.

An Zheng fashion revenue 553 million yuan

In the first quarter of 2019, the business income of an Zheng fashion reached 553 million yuan, an increase of 41.46% over the same period last year, and the net profit attributable to shareholders of listed companies was 102 million yuan, an increase of 10.51% over the same period last year.

As of March 31, 2019, there were 957 stores in an Zheng fashion store.

During the reporting period, sales on the positive fashion line grew rapidly, with 235 million yuan in the first quarter, accounting for 42.7% of total revenue, and 316 million yuan under the line, accounting for 57.3% of total revenue.

Under the positive fashion are JZ nine posture, IMM Yin Mo, MOISSAC mensac, FionaChen fannas four women's wear brands and ANZHENG's men's wear brand, and Anna Kou women's clothing Internet business brand.

In the first quarter of 2019, the main brand's nine position revenue was 267 million yuan, an increase of 8.25% over the previous year, and Yin Mo Ying received 55 million 348 thousand and 100 yuan, down 10.11% compared with the same period last year. The revenue of the company was 27 million 173 thousand and 100 yuan, up 3.78% over the same period last year. The sales of the company were 4 million 587 thousand yuan, down 37.69% from the same period last year, and the revenue of the company was 24 million 337 thousand and 200 yuan, the same ratio fell by 35.57%; and Anna's revenue was 3 million 621 thousand and 500 yuan, down from last year.

Daily fashion revenue 276 million yuan

In the first quarter of 2019, the daily broadcast fashion realized 291 million yuan of business revenue, an increase of 5.46% over the same period last year, and realized a net profit of 4 million 665 thousand and 100 yuan attributable to shareholders of listed companies, down 71.99% from a year ago.

During the reporting period, 265 million yuan was sold under the daily fashion line, an increase of 5.22% over the same period, and online sales of 21 million 201 thousand and 400 yuan, down 2.13% from the same period last year.

By the end of 2019 3, there were 1041 stores on the day.

There are five brands of broadcast, PERSONALPOINT, CRZ, MUCHELL and broadcute.

Among them, the two new brands of women's clothing brand MUCHELL and children's wear broadcute have been operating since 2018.

The first quarter of 2019, the main brand Broadcast: Broadcast revenue 238 million yuan, an increase of 7.99% over the same period; PersonalPoint revenue of 6 million 61 thousand and 300 yuan, down 18.22% compared to the same period; CRZ sales revenue 35 million 360 thousand and 300 yuan, down 22.48% compared to the same period; the new women's clothing brand MUCHELL revenue 5 million 113 thousand and 600 yuan; children's wear broadcute revenue 1 million 602 thousand and 600 yuan.

In the second quarter of 2018, the company started to operate two new brands, MUCHELL and broadcute children's clothing. The business performance of the newly opened stores has not yet reached the expected level, and was affected by the high base in the first quarter of 2018, so the net profit of the shareholders belonging to the listed companies fell by 71.99%.

The first quarter A share of women's clothing listed companies closer

From the first quarter results of A share listed enterprises in 2019, the net profit of 7 women's clothing listed companies increased or decreased, and the gap between enterprises was narrowing.

In terms of operating income, the highest revenue in the first quarter was La Natsu Bell's 2 billion 372 million yuan, followed by 722 million yuan for Langer and 688 million yuan for Wenger.

From the growth rate of the same period of revenue growth, the highest increase is 41.46% of the positive fashion, followed by 13.53% of the earth fashion, 8.32% of the song.

In the 7 women's clothing listed companies, La Natsu Bell and Vigna S showed a downward trend in the same period of revenue growth, while the remaining 5 women's clothing enterprises achieved a positive growth in the same period in the first quarter.

From the net profit point of view, the 3 women's clothing enterprises of Song Li Si, di Su fashion and an Zheng fashion realized a positive growth in the first quarter net profit. The remaining 4 women's clothing enterprises showed a downward trend in the first quarter, of which La Natsu Bell fell the most, reaching 94.4%, while the net profit of Vigna S and the first day of the day fashion also showed a sharp decline of 79.59% and 71.99% respectively.

The highest net profit of 7 A share women's clothing companies in the first quarter is 195 million yuan, followed by An Zheng fashion 102 million yuan, and 89 million 163 thousand and 200 yuan by song.

Combined with the performance of women's clothing listed companies in 2018, we can see that La Natsu Bell, who had occupied the first place in the list of women's clothing enterprises for a long time, ranked first in 2018.

Although La Natsu Bell's revenue reached 10 billion 176 million yuan in 2018, the net profit for the whole year was only 159 million yuan, which has lagged behind most of the women's clothing listed companies.

In the first quarter of 2019, although La Natsu Bell's revenue ranked first in 7 women's clothing enterprises, the gap between total sales revenue and other women's clothing enterprises has obviously narrowed. At the same time, La Natsu Bell's net profit in the first quarter is only 9 million 751 thousand yuan, and the downward trend is still unchanged.

From La Natsu Bell and the situation of net profits of enterprises, it is easy to see that the gap between women's wear listed enterprises is gradually narrowing and the women's clothing groups are evenly matched. The competition of women's clothing industry will become more intense in the future.

From the overall performance of A share listed women's clothing enterprises in the first quarter of 2018 and the first quarter of 2019, the domestic women's clothing market is still in a market segmentation, the market concentration degree is relatively low, the competition is relatively fierce, but the lack of overlord enterprises and brands, and lack of the growth stage of the international fashion group.

There is no doubt that the women's clothing market has huge room for development. In the long run, the theme of the development of women's clothing enterprises will still be the integration changes and scale expansion that we have mentioned many times.

In the new round of growth cycle in the future, we believe that with the acceleration of the pformation, adjustment, remodeling and upgrading of local women's clothing enterprises, the market share will gradually be concentrated on the leading brands of leading enterprises, and the competition pattern of the industry will also be gradually optimized and clarifying.