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< p > March 14th, according to Hongkong Ming Pao reported that mainland local men's wear brand Li Lang (1234) and Feng's group's menswear Retail Group Li Bang (00891) announced its results yesterday.

Last year, the mainland's retail sales were exceptionally cold. In the second half of the year, the company made 25% more profits in the second half of the year. The same store sales grew 5.5% in the same year, and the gross profit margin also improved by more than 1 percentage points.

By contrast, the sales volume of the same store in the mainland, which is the largest market in the mainland, dropped by 1.6%, and the gross profit margin narrowed by about 3 percentage points.

Li Bang said frankly that the sale of the Spring Festival is only OK this year, and it is not thought that there will be a significant recovery.

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< p > sales of same store increased 5.5% last year, < /p >

< p > the sales of same store last year increased by 5.5%, the average selling price increased by 1.8% during the year, and the gross profit margin was expanded.

In the same year, its sales in the same store decreased by 1.6%, and in the second half it dropped by about 8%.

Wang Riming, managing director of Li bang, said yesterday that the promotion time last year was longer than before, and that the gross profit margin was narrowed. In the second half of this year, the growth rate of some western cities with high growth also slowed down, which led to further deterioration of sales sentiment.

Lang shares rose 5% to 4.81 yuan yesterday.

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< p > inventory, although the income of LLB last year was 20% larger than that of LB, the stock amount was only 280 million yuan (about HK $340 million), while the inventory of LB was 660 million yuan.

The number of days in stock of Li Lang is only 1/7 of that of Li bang, 55 days to the end of the year, 4 days better than the first half of the year.

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When p opened up 10 discount stores last year, the inventory turnover period improved over the first half of the year, but it still lasted for 378 days and was 372 days higher than that in 2011.

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< p > the core profit of Li Bang fell 2% < /p >

Wang Riming, managing director of P, said that there was no recovery at the beginning of the year.

He expects sales to remain weak in the first half of this year.

Last year, Li Bang reached a profit of 540 million yuan, an annual growth of 5.2%, slightly lower than market expectations.

During the period, the core profit of the Salvatore Ferragamo (SF) joint venture was reduced by about 2% after the sale of the 30% equity interest of the joint venture.

Li Bang intends to send a final dividend of 14 cents and a special dividend of 2 cents, and the dividend payout ratio will remain unchanged at 76%. The special dividend is due to the sale of SF shares.

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< p > the profit increased slightly to 630 million yuan last year.

The Group intends to issue a final dividend of 19 cents and a special dividend of 6 cents.

However, the group also warned that due to the high inventory of channels, orders for the autumn order meeting may be recorded negative growth.

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