15 clothing companies released 2016 third quarter results announcement 13 revenue growth

The first half of this year, the economic environment, the industry remains in the doldrums end demand, worsening export data to speed up the pace of some listed companies within the industry to accelerate the integration of the supply chain, to explore the transformation of reform and innovation.

According to incomplete statistics, as of the evening of October 25, among the 46 listed companies in the Shanghai and Shenzhen stock market, a total of 15 companies released the third quarter 2016 results announcement. In addition to the negative growth in net profit of Busen, Jialinjie and Modern Avenue, the other 13 listed companies achieved both growth in operating income and net profit.

Up to now, from the perspective of net profit, Jiu Mu Wang was the highest in the third quarter of 2016, with a total of 312 million yuan, followed by cross-border communication, 301 million yuan, and Fu Anna third, 244 million yuan.

According to the financial report, in the first three quarters of 2016, Jiu Muwang achieved operating income of 1.543 billion, down 3.7% year-on-year, net profit of 313 million, up 13% year-on-year. In the single quarter, operating income fell by 3.0% in the third quarter, and net profit increased by 114.3. % reached 115 million, and earnings performance exceeded expectations.

The financial report also revealed that in the first three quarters of this year, the channel adjustment of the main brand of Jiu Muwang and the proportion of direct sales increased, and the new brands of FUN and J1 grew rapidly.

(1) At the end of September 2016, the total number of channels of Jiu Muwang was 2,780, compared with 12 net customs stores at the beginning of the year (including 901 direct sales and 1,879 franchises, an increase of 24 and 36 fewer than the beginning of the year). According to the brand, the main brand Jiu Muwang has 2,683 head stores and 54 net stores (including 833 directly and 1850 joined, with 4 and 58 fewer); FUN has 82 stores and net stores 27 Home (65 direct sales, joining 17 companies, respectively increased by 17 and 10); J1 brand total number of stores 15 (direct 3, joined 12).

(2) According to the brand, the main brand Jiu Muwang income was 1.471 billion yuan, down 6.43% year-on-year, FUN brand income was 36.754 million yuan, up 116.78% year-on-year, and J1 brand income was 995.05 million yuan.

(3) According to channels, the income from direct-operated stores was 572 million yuan, up 0.91% year-on-year. The income from franchise stores was 8.1 million yuan, down 10.14% year-on-year. The direct revenues from January to September accounted for 37.69%, compared with 35.68% in the same period of last year. Upgrade 2PCT; online revenue of 124 million yuan, an increase of 33.54%.

(4) In terms of regions, the income of each sales region has declined to varying degrees. The main markets, East China, Central South and North China, decreased by 6.54%, 2.61% and 1.10% respectively; the southwest, northwest and northeast decreased by 4.42%, 5.65% and 3.29% respectively.

The financial report also showed that Jiu Muwang's accounts receivable at the end of the third quarter decreased by 16.18% compared with the beginning of the year, and the inventory increased by 23.30% compared with the beginning of the year, mainly due to the company's autumn and winter products stocking.

Shi Hongmei, an analyst at Orient Securities, believes that in the future, Jiu Muwang will continue to promote the transformation of terminal retail in the main business: strengthen store operation and single store profitability, and gradually extend the reproducible terminal retail operation standard to direct and affiliate terminals; SKU, clear core products, form enough differentiation; open stores around the core category of trousers, improve product layout, fabric function and product rapid response capability, strengthen the leading position in the trousers market; locate new men's signage J1 of 28-35 years old The launch is expected to contribute new revenue streams to the company.

Reporters had also learned that, the textile and garment industry as a labor-intensive industry and an important category of traditional manufacturing industry is facing slowing growth in receivables, inventories high predicament difficult to digest.

Since the crisis of the textile and apparel industry in 2012, the potential neglected problems of the industry during the prosperous period have also been concentrated in recent years. The traditional textile and apparel industry supply chain has problems such as low information transmission efficiency, high transaction cost, disconnected sales and supply, and terminal information cannot be transmitted to brand owners in a timely and effective manner. At the same time, affected by the economic environment in the first half of this year, the continued sluggish demand for end products in the industry and the deteriorating export data have accelerated the pace at which some listed companies in the industry have accelerated the integration of supply chains and explored transformational reforms and innovations.

Lei Yu, a researcher at Changjiang Securities, pointed out that the overall performance of the listed apparel companies in the third quarter has shown that companies with strong data analysis capabilities and team strengths will help the platform companies become bigger and stronger. At present, the domestic brand apparel upgrade beginning to bear results, leading enterprises supply chain management, business model and scale advantages, the next most likely to produce the apparel industry leading enterprises will be in the low-end of the VW brand, the future belongs to China will produce Chinese characteristics of the brand.

In Lei Yu's view, the current enterprise is most likely to be in the supply chain integration: there are different degrees of pain points in all aspects of textile and apparel, and the integration of industry supply chain is imminent. Enterprises with supply chain integration expectations are worthy of attention. Brand leading enterprises directly face consumers and have first-hand information on consumption. It is easy to guide upstream related enterprises to integrate supply chains, integrate supply chains easily, and provide cost-effective products.