Results Of Retail Enterprises In The First Half Of The Year: 21 Companies Lost Money And 36 Enterprises' Net Profit Declined

What is the impact of the black swan incident of the new crown epidemic on China's economy?

According to the data of the National Bureau of statistics, in the first half of 2020, China's GDP was 45661.4 billion yuan, a year-on-year decrease of 1.6%; in terms of quarters, the first quarter decreased by 6.8% year-on-year, and the second quarter increased by 3.2%, showing obvious signs of recovery. The per capita disposable income of the whole country was 15666 yuan. After deducting the price factor, the actual decrease was 1.3%. Total retail sales and retail sales decreased by 11.4% compared with the same period last year.

In the first quarter of this year, the epidemic had a huge impact on the retail industry. Lianshang.com once discussed in detail in the article "except supermarkets, retail enterprises' performance in the first quarter was very poor". After the second quarter, the economy gradually recovered. So, in the first half of the year, what is the performance of retail enterprises? What is the survival status of enterprises under the epidemic situation?

With the arrival of the mid year report release season, the retail research center of lianshang.com has counted the performance of 45 listed retail enterprises that have published the interim report or released the performance forecast of the first half of the year.

Among them, 21 enterprises suffered losses, 24 enterprises achieved profits, and 36 enterprises showed a year-on-year decline in net profit.

In the list, only 9 enterprises achieved a year-on-year increase in net profit, among which only Lianhua supermarket, Yongwang, Yanjin shop and Cuihua jewelry achieved net profit growth through their main business, while the other five companies achieved net profit growth through asset sales.

In the first half of 2020, the performance of retail enterprises is generally not ideal. Although the industry as a whole is threatened with recovery, some enterprises are still unable to break through the profit dilemma.

Outstanding performance of supermarkets

From the current statistics of 5 supermarket enterprises, Lianhua supermarket, Xinhua Du and Sanjiang shopping realized profits, while renrenrenle and Zhongbai group realized losses.

In the first half of this year, Xinhua is expected to achieve a net profit of 110-140 million, compared with a loss of 120 million in the same period last year. The main reason for xinhuadu to turn losses into profits is that in 2019, it closed and disposed of long-term loss stores and equity of some subsidiaries, which reflected its overall profitability.

During the same period last year, Sanjiang's net profit of RMB 1.23 million and the net profit of RMB 1.63 million was mainly affected by the decrease of net profit of RMB 1.23 million from the sales of Sanjiang and sunma in the same period of last year. After excluding these two non recurring gains and losses, the net profit of Sanjiang shopping in the first half of the year increased by 1.97%.

Zhongbai group is expected to lose 60 million to 80 million yuan in the first half of the year, with a year-on-year decrease of 264.95% - 319.94%. This is mainly related to the fact that the base camp was in Hubei, which was once the most serious epidemic area. Zhongbai group pointed out in the first quarter report that, affected by the new crown pneumonia epidemic, all stores of Zhongbai group's department stores and electrical appliances were suspended from January 23, more than 30 stores of Zhongbai warehouse, Zhongbai supermarket and Zhongbai Rosen were closed one after another. Nearly 1000 stores still in operation carried out community group purchase, resulting in a single sales structure, which led to a year-on-year decline in business revenue; During the period of the epidemic, the cost of selling goods and materials increased sharply, which led to a sharp increase in the cost of selling goods and materials. In the second quarter, more than 30 stores of Zhongbai group were still closed, and the sales revenue did not return to the pre epidemic level. However, combined with the loss of 170 million in the first quarter and the performance forecast of the first half of the year, Zhongbai group's second quarter performance rebounded, and the net profit is expected to be between 90 million and 110 million.

Among them, Lianhua supermarket is expected to achieve a net profit of 52 million-66 million, with a year-on-year increase of 30% - 50%. The reason for the sharp increase in net profit is the increase in consumer demand for consumer goods brought about by the new crown pneumonia epidemic. For supermarket enterprises, Lianhua Supermarket's performance growth is representative.

In the first quarter of the most serious epidemic situation, Yonghui supermarket, jiajiayue, Hongqi chain, Hualian comprehensive supermarket and Beijing Jingkelong all achieved a significant increase in net profit on a year-on-year basis. Under the epidemic situation, the supermarket has become the most important carrier to stabilize the price and supply and protect the people's livelihood. At the same time, people's demand for fresh food, rice, flour, grain and oil and other daily necessities has not decreased, which is the main reason for most supermarkets to achieve revenue and net profit growth in the first quarter. Although these companies have not yet announced the first half results, the second quarter of economic recovery should be better than the first quarter.

Shopping malls are still hard

Among the 15 enterprises counted by lianshang.com, 12 enterprises showed a sharp decline in net profit over the same period of the same period of the same period. Only three enterprises, including Yongwang, Yuexiu financial holding and Dalian Friendship, achieved a year-on-year increase in net profit. However, Yuexiu financial holding and Dalian Friendship increased their non recurring profit and loss by selling off their assets, so as to achieve a large increase in net profit on a year-on-year basis.

Among these 15 enterprises, 9 enterprises have realized losses, only 6 enterprises have realized profits, and the situation is still not optimistic. However, compared with the first quarter, the overall performance of the first half of the year has improved, and some enterprises have narrowed their losses or even turned losses into profits.

In the first half of the year, Hubei Wushang a had a deficit of 40-45 million yuan in advance, with a net profit of 600 million yuan in the same period last year, a sharp decrease of 106.67% - 107.50% over the same period of last year.

Located in the once epidemic center, Hubei Wushang a suffered serious losses in the first quarter, with a loss of 225 million. The main reasons are as follows: 1. To reduce the operating cost of supermarkets, 2. To reduce the cost of shopping centers; 4. To reduce the cost of shopping centers. Based on the results of the first quarter and the first half of the year, the second quarter net profit of Hubei Wushang A should be between 180 million and 185 million, and the recovery trend is obvious.

The case of Hubei Wushang A is also the most representative. During the first quarter of the epidemic, in order to respond to the epidemic prevention policy and avoid crowd gathering, shopping malls all over the country shortened their business hours one after another. Most of the supermarkets in the country have been closed down to protect the people's livelihood. At the same time, in order to overcome the difficulties, nearly 1000 shopping malls across the country have taken the initiative to reduce rent and free rent for merchants, with a maximum period of 67 days. Affected by this series of factors, the first quarter performance of the listed companies in department stores and shopping centers is terrible.

Tianhong shares is expected to achieve a net profit of 29.86-39.86 million in the first half of the year, down 92.08% - 94.07% year-on-year. Compared with the loss of 50.14 million yuan in the first quarter, Tianhong shares recovered significantly in the second quarter.

Compared with the data of the first quarter (85.89 million), the loss of shoushang shares is expanding. This shows that shoushang shares realized a loss of 4.11-9.11 million in the second quarter. Although the loss was narrowed compared with that in the first quarter, it did not make a profit. The main reason was that the epidemic situation rebounded in Beijing in mid June, and most of its stores were in Beijing. Affected by this, the passenger flow of stores affiliated to shoushang Co., Ltd. decreased significantly, and the business performance recovered slowly.

Generally speaking, although the first half of the year is still very difficult for department stores and shopping center enterprises, the recovery trend is very obvious from the performance situation. As long as the epidemic situation does not recur, the performance of the second half of the year can be expected.

Clothing enterprises are in the cold winter

In the first half of the year, the sales of shoes and clothing decreased by 19% compared with the same period of last year. From the perspective of residents' expenditure, the expenditure on shoes and clothing of urban and rural residents also decreased significantly in the first half of the year.

In terms of the performance of clothing and footwear enterprises in the first half of the year, except for modern Avenue, the net profit of the remaining 17 enterprises decreased significantly. Among them, 9 enterprises suffered losses, accounting for 50%. The revenue of modern Avenue, where the net profit increased sharply year on year, still showed a year-on-year decrease. The reason for the sharp increase in net profit was the non recurring profit and loss caused by the disposal of headquarters building, the disposal of wholly-owned subsidiaries and holding subsidiaries, and the unauthorized deduction of 13.16 million yuan of company deposits by Tianhe branch of Bank of Guangzhou.

In the first half of the year, TEB international is expected to achieve a net profit of 208-255 million, down 45% - 55% year-on-year. For the reasons of the decline in net profit, the explanation given by Tebu international is representative: 1. Affected by Xinguan epidemic, the operation of factories and stores is generally blocked, resulting in the reduction of orders and replenishment orders of agents; 2. Increasing support for brand agents through various subsidies; 2; 3. Since mid March, most of the company's operations in America and Europe have been suspended due to the impact of the epidemic.

In the first half of the year, Anta's net profit decreased by no more than 25% year-on-year. Based on this calculation, its net profit in the first half of the year will exceed 2.227 billion. Although the net profit of souyute drops sharply, it still achieves the expected income of 25 million-37.5 million. Taipingniao is expected to achieve a net profit of 121 million, with a year-on-year decrease of 8.55%; zodanu's performance is the worst, with an estimated loss of 154 million-163 million

Compared with the first quarter, the second quarter performance of five enterprises, such as souyute, hinour, langzi shares, Saturday and Pathfinder, still did not get better in the second quarter, and the losses continued to expand, and the road to break through the difficulties was extremely difficult.

Sun Yulong, a special columnist of Lianshang, pointed out that as one of the most severely affected industries in the first half of 2020, the clothing industry as a whole is facing a situation of low sell-out rate, high inventory and extremely tight cash flow. At the same time, under the sudden attack of the epidemic situation, the closure trend of the clothing industry is increasing, and the whole upstream and downstream industry chain of the clothing industry is in a downturn. At present, the biggest change brought by the epidemic situation to the clothing industry is the change of sales mode. Most of the clothing enterprises begin to change the live delivery with goods into standard configuration.

He pointed out that under the epidemic situation, China's clothing industry has entered a period of reshuffle, and the remaining clothing brands will gradually form two levels of differentiation, the first level will enter the international and integrated development of multi brands; the first level is the small and beautiful development of regionalization, and the large wholesale mode will become more and more difficult to maintain. "Under the influence of the epidemic situation, the future clothing industry brand layout will form a trend of brand centralization in some subdivided areas, especially sports brands. For men's and women's wear brands, the market and channel development mode will be repositioned, and it is difficult for National Women's and men's wear brands to reappear."

In addition, in terms of home appliance retail, Suning e-buy achieved a revenue of 118.243 billion in the first half of the year, a year-on-year decrease of 12.78%, and a net profit loss of 160 million, a year-on-year decrease of 107.51%. The net income of Suning is affected by the increase of shareholders' net income.

In terms of leisure food, Zhou Hei duck had a deficit of 42-50 million yuan in the first half of the year. Affected by the epidemic situation, Zhou Heiya suspended production activities in Central China in the first quarter, and about 1000 stores nationwide were closed periodically.

I really want you to realize a net profit of 2.196-2.317 billion, with a year-on-year increase of 1632.39% - 1728.23%. The main reason is that the sale of baicaowei shares brings about non recurring profits and losses.

Yanjinpu's performance was completely unaffected by the epidemic situation, with a net profit of 130 million in the first half of the year, up 96.44% year on year. This achievement is entirely due to the operating ability of Yanjin shop. Yanjin shop has strengthened the "super benchmarking of direct business, comprehensive expansion of distribution channels, and follow-up coverage of new retails". The offline marketing network is "point-to-area, partitioned and step-by-step expansion". At the same time, the e-commerce is positioned as the brand e-commerce of manufacturing enterprises, and gradually forms a three-dimensional marketing network with "offline + online" complementary advantages. The main business income increases steadily and the profitability continues to improve.

In terms of jewelry accessories, Cuihua jewelry is expected to achieve a net profit of 26.86 million-37.6 million in the first half of the year, which has turned losses into profits by widening sales channels. In addition, the net profit of Jinyi culture, feiyada and chaohongji all declined sharply.

epilogue

In general, in the first half of 2020, China's economy will continue to overcome the adverse effects of the epidemic and gradually achieve steady recovery and growth. However, some retail enterprises are still in the performance quagmire, and it will take time to make up for the losses caused by the epidemic.

At present, the epidemic is still spreading all over the world and there is no trend of improvement, and the impact on the global economy will continue. At the same time, the game between China and the United States continues, external risks and challenges have increased significantly, and domestic economic recovery still has a lot of pressure. In the second half of the year, the retail industry will still face a severe test. If we want to get rid of the difficulties and make the business continue to improve, in the final analysis, we should rely on the enterprise's own innovation and response ability.