Semir apparel's first three quarters net profit growth, will attach importance to casual wear business
In October 29th, Semir apparel released the three quarterly report in 2019. The company achieved operating income of 13 billion 261 million yuan in the first three quarters, an increase of 35.82% over the same period last year, and realized a net profit of 1 billion 307 million yuan attributable to shareholders of listed companies, an increase of 2.79% over the same period last year. Net profit after deducting non recurring gains and losses was 1 billion 250 million yuan, an increase of 3.53% over the same period last year. In the single quarter, Semir apparel achieved a business income of 5 billion 42 million yuan in the third quarter of 2019, an increase of 19.14% over the same period last year. The net profit attributable to shareholders of listed companies was 585 million yuan, down 3.18% compared with the same period last year. Net profit after deducting non recurring gains and losses was 581 million yuan, down 1.20% from the same period last year. Thus, Semir apparel's third quarter growth momentum is slowing down.
Semir clothing explained that from the perspective of operating revenue, the company still maintained growth in the first three quarters, mainly from the growth of children's clothing business and e-commerce business, the improvement of Semir's casual wear business, and the growth of revenue from the French subsidiary. Among them, the French business has contributed most to the growth of revenue. Domestic electricity supplier business still maintained an increase of about 30%. Children's clothing business grew by about 20%. The net profit of the first three quarters increased by 2.79%, the net profit after deducting the net profit increased by 3.5%, and the profit index growth slowed down compared with the previous stage. The main reason was the loss of the French subsidiary and the influence of the table.
Data show that as of the end of the three quarter of 2019, the total number of shops in Semir's domestic businesses was 9582, compared with 9123 in the beginning of the year, a net increase of 459, of which 5682 were children's wear, 389 increased, 3900 for adults, 70 more. This year, the number of shops has increased by 4.8%.
For future development, Semir apparel said that the company's brand strategy is to consolidate the main brand, develop multiple brands and build brand clusters. The children's wear board has its own mini Bala, Macal, and foreign cooperative Kee tree. It represents the Children's Place of the United States, the acquisition of KIDILIZ in France, the children's clothing cluster has a certain scale. In terms of adult clothing, it plans to consolidate the main brand Semir casual wear business; meanwhile, it also creates new brands and new brand of agency cooperation, such as women's wear, men's clothing, light luxury brand, and so on, and builds brand clusters. The company believes that the competition in the adult clothing market is fierce, but in the market of casual wear and public clothing, there will be a big domestic brand.
Taiping bird's third quarter performance rebound, adjust channel structure
In October 25th, Taiping bird released the three quarterly report in 2019. The first three quarters of the company achieved operating income of 5 billion 3 million yuan, up 2.36% compared to the same period last year. The net profit attributable to shareholders of listed companies was 207 million yuan, down 26.78% over the same period last year. Taiping bird said that the company's operating income increased year by year. Meanwhile, due to the increase in the number of Direct stores and the increase in brand advertising input, the cost of leasing, salesperson's remuneration, advertising and other expenses increased. The net profit attributable to shareholders of listed companies fell year after year, but the decline has narrowed compared with the half year of 2019.
Three quarterly reports show that Taiping bird realized its operating income of 2 billion 247 million yuan in the first three quarters of 2019, an increase of 5.9% compared with the same period last year, and the gross profit margin was 66.9%, an increase of 1.38% over the same period last year. Franchisees realized revenue of 1 billion 400 million yuan, down 9.3% compared with the same period last year, and the gross profit margin was 44.28%, down 2.9% compared with the same period last year. Taken together, the first three quarters of Taiping bird's line achieved operating income of 3 billion 650 million yuan, down 0.60% compared with the same period last year, while operating income in the first three quarters of the online channel was 1 billion 286 million yuan, up 14.28% over the same period last year.
Taiping bird said that in the third quarter of 2019, the company focused on improving the profitability of its stores and improving the quality of its operations. In the first three quarters of 2019, there were 346 new outlets, 572 franchises, 237 direct outlets, 827 franchisees, 10 joint stores, and altogether closed 156 stores. By the end of September 2019, the number of offline stores was 4438, of which 1625 were direct stores, 2807 were franchises, and 6 were affiliated stores.
Data show that in the first three quarters of 2019, Taiping bird increased 109 direct outlets and closed 251 stores. In the 2019 semi annual report, Taiping bird said that franchisees operate independently in terms of management decisions, commodity management, personnel management, financial management and so on. In the daily operation process, there may be some problems such as inadequate implementation of company policies, difficulty in meeting management requirements and even changes to other brands, thus affecting the brand image and business performance of the company. In addition, the company's stock is still relatively large, accounting for a higher proportion of total assets, which needs attention and management.
In the first three quarters of Smith Barney, the company recorded a loss and plans to increase its brand upgrade.
In October 28th, the United States and costumes released the three quarterly report in 2019. The first three quarters of the company achieved operating income of 4 billion 34 million yuan, down 27.27% compared to the same period last year. The net loss attributable to shareholders of listed companies was 238 million yuan, down 692.42% compared to the same period last year. The company also expects net profit loss of 5 to 1 billion yuan in 2019.
In the first half of the year, due to the influence of the delivery period, the products in the spring and summer of 2019 were postponed and failed to meet the market demand. The supply chain problem was improved in the second half of the year. The new products in autumn and winter were listed on demand. The three quarter revenue declined narrower than the first half of the year, and the fourth quarter is expected to continue this trend. At the same time, the company will increase the intensity of cash in stock trading. The online and offline channels plan to use the four quarter "double eleven" and "double 12" marketing nodes to carry out large sales promotion activities to accelerate cash withdrawal. The above measures may have a greater negative impact on the four quarter and annual net profit.
In the second half of the year, the United States and costumes continue to push ahead with the fixed increase plan. In September 20th, Smith Barney launched the 2019 annual plan for the development of A shares of non public development banks (the two revised version). The total amount of raised funds raised by non-public offering is not more than 13.04 yuan. After deducting the issuance cost, it is used for brand upgrading and product supply chain transformation projects and repayment of bank loans. Among them, the brand upgrade and product supply chain transformation project will be invested 999 million yuan, including five sub projects, including brand upgrading and image renewal, supply chain mode transformation, information technology management system and retail big data platform upgrading, store upgrading and new store establishment.
In addition, in May 24th, the United States and costumes returned to the Shenzhen Stock Exchange's annual report in 2018. The Shenzhen Stock Exchange mentioned that the company achieved profitability in 2018, but its net profit margin was only 0.53%, and the company's main garment business is still losing money, asking whether the main business of the company has sustained profitability. Since the 2016 year, the company has focused on the main industry, promoting the transformation and innovation of its own brand business, optimizing and expanding the channel structure, and improving the retail management capability, according to Smith Barney. The profitability of the company's main garment business has been continuously improved, attributable to the net profit of shareholders of listed companies after deducting non profits and sustained losses reduction, and realized profitability in 2018. However, in the three quarterly report this year, the United States has predicted that the 2019 will be "once again" recorded a loss.
Search for net profit decline in the first three quarters, will explore the "fast fashion" mode.
In October 30th, the search announced the three quarterly report in 2019. The first three quarters of the company achieved operating income of 9 billion 910 million yuan, down 34.87% compared to the same period last year. The net profit attributable to shareholders of listed companies was 304 million yuan, down 45.98% compared to the same period last year. Search for special said, the first three quarters of the decline in revenue mainly due to the macroeconomic uncertainties, the downward pressure on the economy increased, the company continued to slow down the development of supply chain management business, and supply chain atom Shaoxing City Xing Lian Supply Chain Management Co., Ltd. in October 2018 from a controlling subsidiary to a joint venture, no longer included in the scope of the company's merger, so that the operating income decreased substantially compared with the same period last year.
Search in 2019 semi annual report shows that the first half of the company achieved operating income of 6 billion 77 million yuan, down 44.14% compared to the same period, attributable to shareholders of listed companies net profit of 185 million yuan, down 56.94% over the same period last year. The main reason for the decline in the first half of the year is the decline in the performance of the company's business. In addition to the decline in supply chain management business, in the aspect of casual wear business, search, especially in recent years, due to the weakening of the macro-economy, the growth of total retail sales of consumer goods continued to decline, and the textile and garment industry also showed a downward trend. The growth rate of the sales of clothing, shoes, hats, needles and textiles over the quota has been decreasing since 2015, and the domestic consumer demand for terminal goods is in a slump. In the first half of the year, the company's brand apparel business achieved a total operating income of 628 million yuan, down 23.19% from the same period last year. In addition, due to the weak market demand, the other fashionable electronic products business decreased significantly compared with the same period last year. The first half of this year achieved operating income of 359 million yuan, down 49.05% from the same period last year.
The leisure clothing business in search is mainly engaged in the "trend front" brand. Its consumers are positioned as young people aged 16-35, the price is priced as a fast fashion of parity, and the market is positioned as the three or four line market in China. The company said that it will continue to explore the "fast fashion" development mode, developers and shopping centers and new consumption channels.
Conclusion: casual clothing enterprises generally bear the pressure in the first three quarters of the year, and the leisure wear business will still be overweight.
In the first three quarters of this year, the performance of several popular apparel and apparel enterprises listed in Semir clothing, Taiping bird, Mei Bang clothing and search at the top three companies can be found that the enterprises are in a "confined" state on the whole, and are less than expected, but they also show some positive factors and "rebound" momentum. Semir's clothing revenue and net profit in the first three quarters maintained an increase, which should be said to be a better performance in casual wear enterprises, but the growth rate slowed down in the third quarter, and net profit fell in the first quarter. The first quarter of the three quarter did not increase profits. However, compared with the first half of the year, the net profit of the two companies declined. The performance of the third quarter has improved. The first quarter of the United States has seen a loss in the three quarter. However, from the perspective of revenue, the decline in revenue in the third quarter has narrowed.
The overall pressure of the performance of the mass leisure clothing enterprises is not only related to the external market environment, but also the fierce competition in the market. At the same time, enterprises are also faced with the common requirements to adapt to the changing market demand. Generally speaking, casual wear enterprises are planning to adjust, optimize and upgrade leisure wear business. Semir apparel said it plans to consolidate its main brand Semir casual wear business, release its new leisure wear brand positioning in the first half of the year, maintain the pace of expansion of the shop, adjust the store structure, add Direct stores and increase brand input, and the United States is losing money, but it is still issuing a fixed increase plan to promote the brand upgrading and product supply chain transformation projects. The search for special leisure wear business is no longer the main business of the company, but it will continue to explore the "fast fashion" development mode and so on. In fact, it is not just casual wear enterprises. For other apparel enterprises with subdivision industries, it will be possible to win in the fierce market competition and become a new market winner by watching the "machine" from "danger", catering to the new demands of the market, facing new changes in the market and cultivating new competitive power.
