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First Half Performance Inventory: Women'S Clothing Enterprises Continue To Narrow The Gap

2019/9/23 12:48:00 0

From the 2019 half year performance of A share women's clothing enterprises, 7 women's clothing listed companies have increased and reduced revenues, net profits and losses. The gap between enterprises is gradually narrowing down, and the competition of women's clothing industry will become more intense in the future.

La Natsu Bell's revenue is 3 billion 951 million yuan.

In 2019 1~6, La Natsu Bell realized operating income of 3 billion 951 million yuan, down 9.78% compared to the same period last year, and realized the net profit attributable to shareholders of listed companies -4.98 billion yuan, down 311.2% compared to the same period last year. By the end of June 2019, the La Natsu Bell group had 6799 domestic retail outlets, a net decrease of 2470 compared to the end of 2018, and 580 outlets of Naf Naf brand overseas outlets.

Judging from the brand situation, all brands of the group showed a downward trend in the first half of the year. The main business women's brands La Chapelle, Puella, 7 Modifier and La Babit were down more than 20% year-on-year. For the first half of the year, the net profit and double fall performance, La Natsu Bell said that in 2019, as the company's third 10 year starting point, it is undergoing large-scale strategic contraction, leading to the decline in the reporting period. The main reason is that the company has taken the initiative to implement the strategic contraction strategy, continuously optimized the offline channel, closed down direct, inefficient and loss retail outlets to reduce the ineffective investment of resources; influenced by multiple factors such as the strategic contraction strategy of the company, the slowdown in consumption growth and the decrease in the number of physical stores, the company's main women's clothing brand revenue declined; from the point of view of channels, the sales revenue of counters, monopolization and e-commerce channels decreased compared with the same period last year. The main reason for net profit loss is that the company's operating income has declined significantly compared with the same period last year, and the company has accelerated the digestion of the seasonal products, resulting in a decrease in gross profit margin and a corresponding decrease in gross profit margin.

Revenue of 1 billion 398 million yuan

In the first half of 2019, he realized operating income of 1 billion 398 million yuan, an increase of 7.72% over the same period last year, and realized a net profit of 89 million 125 thousand and 300 yuan attributable to shareholders of listed companies, down 20.18% from the same period last year. As of the end of June 2019, the company has 507 sales terminals and 6 online channels, with more than 30 VIP customers under the line.

The main business of our company covers four major business systems: Women's clothing, baby care, medical beauty and asset management. In the women's clothing market, the company carries out multi brand layout in the high-end women's clothing market through three modes, namely, self creation, agency operation and brand acquisition. At present, the main independent brands are Lancy From 25, Rhine Lime Flare, Li Ya LAN Zi liaalancy, the main agents are MOJO S.PHINE, JIGOTT, FABIANA FILIPPI; in May 2019, the company completed the acquisition of the brand name of branded women. Judging from the composition of business, the group's women's clothing business income in the first half was 698 million yuan, accounting for 49.91% of the total revenue of the group, an increase of 5.78% over the same period last year. Among them, the brand revenue of the brand is 507 million yuan, accounting for 72.61% of the group's women's clothing sales.

Jinhong group's revenue is 1 billion 287 million yuan.

In May of this year, wicknus was renamed the Jin Hong group. In 2019 1~6, Jinhong group achieved a business income of 1 billion 287 million yuan, down 6.53% compared to the same period last year, and realized net profit attributable to shareholders of listed companies 25 million 103 thousand and 300 yuan, down 78.58% compared to the same period last year. As of the end of June 2019, there were 1392 stores in Jinhong group, including 160 VGrass stores, 1231 Teenie Weenie stores, and 1 lucky auspicious stores.

Jinhong group currently has three brands: VGrass, lucky cloud brocade and Teenie Weenie. In the first half of the year, VGrass revenue was 390 million yuan, down 6.7% from the same period last year. Lucky brocade sales revenue was 10 million 764 thousand and 300 yuan, up 5.92% over the same period last year; Teenie Weenie revenue was 883 million yuan, down 6.44% from the same period last year. In addition, in the first half of the year, Jinhong group's online revenue was 170 million yuan, an increase of 0.81% over the same period, and its revenue was 1 billion 114 million yuan, down 7.44% from the same period last year.

Grace revenue 1 billion 266 million yuan

In 2019, 1~6 achieved operating income of 1 billion 266 million yuan, up 17.09% over the same period last year, and realized a net profit of 190 million yuan attributable to shareholders of listed companies, an increase of 17.9% over the same period last year.

At present, the company has 7 fashion brands, of which Ellassay is the company's own brand, Laur L, Ed Hardy, IRO, VIVIENNE TAM, Jean Paul Knott, and Mars are the international brands acquired by the company. As of the end of June 2019, there were 577 stores in the company, including 296 brands of Ellassay, 174 brands of Ed Hardy, 40 brands of Laur L, 53 IRO brands, and 14 VIVIENNE TAM brands. During the reporting period, it sold 1 billion 59 million yuan under the song line, accounting for 95.02% of the total revenue, and online sales of 55 million 593 thousand and 700 yuan, accounting for 4.98% of total revenue.

An Zheng fashion revenue 1 billion 124 million yuan

It has its own fashion brand JZ nine posture, IMM Yin Mo, MOISSAC mensac, FionaChen fannas four women's wear brands and ANZHENG's men's wear brand, in the Greater China area Stella McCartney and Stella McCartney Kids. In 2019, 1~6's business income reached 1 billion 124 million yuan, an increase of 49.49% over the same period last year. Net profit attributable to shareholders of listed companies was 192 million yuan, an increase of 18.34% over the same period last year. As of the end of June 2019, there were 939 stores in the fashion shop.

It is worth mentioning that during the reporting period, sales on the positive fashion line grew rapidly, and the online revenue in the first half of the year was 526 million yuan, accounting for 46.96% of the total revenue, while sales under the line were 594 million yuan, accounting for 53.04% of the total revenue. Online sales, clothing category revenue 161 million yuan, the electricity supplier generation operation revenue of 365 million yuan. The company has transformed from a traditional Brand Company based on offline entity stores to a new retail companies with integrated online and offline services. The increase in operating income during the reporting period was mainly due to the merger of Shanghai's Mdt InfoTech Ltd. Ritual information in the first half of the year achieved operating income of 365 million yuan, net profit of 42 million 980 thousand yuan, accounting for 32.43% of the combined operating income and net profit respectively, and 20.92% of the operating income and net profit of the reporting period increased by 48.48% and 18.51% respectively.

Earth element fashion revenue 1 billion 111 million yuan

In the first half of 2019, the company achieved 1 billion 111 million yuan of revenue, an increase of 14.42% over the first half of the year, and a net profit of 339 million yuan attributable to shareholders of listed companies, an increase of 1.09% over the same period last year. As of the end of June 2019, there were 1050 stores in di Su fashion.

The four brands of DAZZLE, DIAMOND DAZZLE, d 'zzit and RAZZLE are now available in the fashion company. The revenue of DAZZLE was 642 million yuan during the period, up 13.85% from the same period last year. DIAMOND DAZZLE revenue was 88 million 311 thousand and 600 yuan, an increase of 7.77% over the same period last year; d' zzit revenue was 371 million yuan, an increase of 18.27% over the same period last year; the September 2017 men's brand brand revenue 1 million 995 thousand and 400 yuan, down 20.77% over the same period last year. In addition, in 2019, 1~6 sold 147 million yuan, 27.08% year-on-year, and 962 million yuan, up 12.75% over the same period.

Daily fashion revenue 518 million yuan

In the first half of the year, the business profits of the day fashion fashion business reached 518 million yuan, an increase of 1.39% over the same period last year. The net profit of the shareholders attributable to the listed companies was -1627.47 million yuan, representing a decrease of 34 million 202 thousand and 800 yuan over the same period last year. By the end of 2019 6, there were 983 stores on the day.

It has five brands of broadcast broadcasting, PERSONAL POINT, CRZ, MUCHELL and broadcute. Among them, the broadcast: brand grew by 3.14% compared to the same period last year; CRZ brand business income dropped 17.27% compared to the same period last year. In 2018, the company officially launched the women's clothing brand MUCHELL eye and children's wear broadcute two new brand sales accounted for 2.45% of the total business revenue. During the reporting period, 455 million yuan was sold under the daily fashion line, an increase of 0.54% over the same period, and online sales of 50 million 909 thousand and 800 yuan, an increase of 7.63% over the same period last year.

The main reason for the sharp decrease in net profit is that the new brand of the company has not yet achieved the expected benefits. In addition, the CRZ brand is still in the adjustment period due to its brand positioning adjustment, and there is a big loss.

The first half of the A women's clothing listed companies closer to the gap

From the results of the first half of the A shares listed companies in 2019, the 7 women's clothing listed companies have increased or reduced revenues, net profits and losses, and the gap between enterprises is continuing to narrow.

Performance of A share listed women in the first half of 2019

From the operating income situation, the highest revenue in the first half was La Natsu Bell 3 billion 951 million yuan, followed by 1 billion 398 million yuan in the posture, and 1 billion 287 million yuan in Jinhong group. From the growth rate of the same period of revenue growth, the highest increase is 49.49% of the positive fashion, followed by the 17.09% of the song, and 14.42% of the fashion. An Zheng fashion said that the net profit growth in the reporting period was mainly due to the merger of the Mdt InfoTech Ltd in Shanghai in the current period. The information in the first half of the year reached 365 million yuan, with a net profit of 42 million 980 thousand yuan, accounting for 32.43% and 20.92% of the combined business income and net profit of the company, respectively, making the company's operating income and net profit increase 48.48% and 18.51% over the same period. In the 7 women's clothing listed companies, La Natsu Bell and Jin Hong group showed a downward trend in the same period of revenue growth, while the remaining 5 women's enterprises achieved a positive growth in the same period in the first half of the year.

From the net profit situation, the 3 women's clothing enterprises such as song Li Si, an Zheng fashion and di Su fashion realized positive growth in the first half of the year, while the remaining 4 women's clothing enterprises showed a downward trend in the first half of the year. Among them, La Natsu Bell's net profit loss was 498 million yuan, the fall rate reached 311.2%. The highest net profit of 7 A share women's clothing companies in the first half of the year was 339 million yuan, followed by An Zheng fashion 192 million yuan, and Song Li Si 190 million yuan.

Industry competition is more intense

Combined with the performance of women's clothing listed companies in the first quarter of 2019, although La Natsu Bell's revenue ranked first among the 7 women's clothing enterprises, the gap between sales revenue and other women's clothing enterprises has been significantly reduced. In the 7 women's clothing enterprises, except for La Natsu Bell and Japanese fashion, the rest of the 5 women's clothing enterprises in the first half of the year's revenue were between 11~14 billion yuan. The difference is very small, which shows that the gap between the women's wear listed enterprises is continuing to narrow, and the competition of women's clothing industry will also become more intense in the future.

But opportunities and challenges always exist. According to Euro international statistics, the market scale of women's clothing industry reached 923 billion 200 million yuan in 2017, and it is expected to reach about 10565 billion yuan in 2020. There is no doubt that the women's clothing market has huge market capacity and development space. Judging from the performance of women's clothing listed companies in the first half of this year, the transformation and upgrading of local women's clothing enterprises are frequent and the market segmentation becomes more obvious. At the same time, the market concentration is constantly improving. With the continuous integration and expansion of the industry, the market share will gradually concentrate on the leading brands of the leading enterprises, and the market concentration of the women's clothing industry will be further improved. The women's clothing enterprises that occupy the brand advantage and have a higher influence will be more likely to seize the market space in the fierce competition of the industry.