Sports Brands Announces Good Times for Sportswear Outlook Date:2015-03-16 18:10
On the 11th, Peak Sports announced its annual performance report as of the end of December 2014. In the same year, it achieved a net profit of 321 million yuan, a year-on-year increase of 31.3%. In addition, listed companies such as 361 Degrees, China Lilang and other textile and clothing companies have also announced their financial reports in succession, and their performance has generally grown at different levels. Analysts pointed out that export pull, destocking, and business transformation are the main factors that boost the performance of textile and apparel companies.
Corporate earnings generally improved
Peak Sports' earnings per share for FY2014 was HK$0.1528; the final dividend interest was HK$0.08, which was higher than the dividend of HK$0.06 in the same period of last year. In FY2014, Peak Sports' turnover increased by 8.75% year-on-year to RMB 2,841 million; gross profit increased by 16.45% year-on-year to RMB 1,079 million; gross profit margin was 38%, up 2.5 percentage points year-on-year; net profit margin increased by 2 percentage points year-on-year. 11.3%.
The financial report shows that last year, Peak's sales of sports footwear products increased by 6%, and the average selling price increased by 3.9%; sales of apparel products decreased by 4.9%, and the average sales price increased by 13.7%. The average inventory turnover days decreased from 81 days in 2013 to 74 days at the end of last year.
On the 10th, 361 Degrees also announced its annual results as of the end of December last year. The company achieved a net profit of 398 million yuan, an increase of 88.22% year-on-year; its earnings per share was 0.192 Hong Kong dollars. In fiscal 2014, turnover at 361 degrees increased by 9.01 to 3.906 billion yuan year-on-year; gross profit increased by 12.68% year-on-year to 1.597 billion yuan; gross profit margin increased by 1.4 percentage points from the same period in 2013 to 40.9%. Last year, the sales of 361 degrees footwear, apparel and accessories increased by 10.9%, 2.8% and 8.4% respectively.
361 degrees pointed out that in fiscal year 2015, the company's inventory problems will gradually improve, the level of in-store inventory gradually normal, retail discounts have also been narrowed. In addition, a clearer strategy will be developed for e-commerce. At present, 361 degrees has opened flagship stores in Jingdong, Tmall and Haolebu, and plans to launch exclusive products in the future.
Belle International recently announced that for the fourth quarter of the 2014-2015 financial year ending in February 2015, the same-store sales decline in footwear from the third quarter narrowed to 4.2% from 5.6% in the third quarter, while same-store sales in sports and apparel business rose 10.9% year-on-year. Better than expected. BOCOM International released a report saying that Belle’s strong resistance to shocks was mainly due to the fact that the comprehensive and vertically integrated production model made the cost highly flexible, and that the diversified and multi-brand product portfolio strengthened its scale advantage. In addition, Hundred's online business achieved a balance between revenue and expenditure in 2015, and the outlook for sportswear is getting better and better, which will help resist the short-term negative impact from the footwear business. It is expected that Belle's earnings per share will grow steadily by 7% in FY16, which is higher than the 6% growth in FY15. In FY2017, EPS growth will recover significantly to 13%.
Previously, China Lilang announced its annual results for the year ended December 31, 2014. Last year's annual profit increased by 7.5% year-on-year to RMB 555 million, and its basic earnings per share for the full year was HK$0.4617.
Last year, China Lilang's turnover rose 5.8% to 2.433 billion yuan, gross profit margin remained at 42.6%; operating margin rose 2.7 percentage points to 28.0%, and net profit margin rose 0.3 percentage points to 22.8%. As of December 31, 2014, the company had a net cash balance of RMB 1.937 billion. Li Lang of China pointed out that the growth in 2014 mainly benefited from the reversal of sales of core brand LILANZ. In addition, the company continued to adjust its stores, resulting in a net decrease of 376 stores throughout the year. The operating efficiency of the company improved, and the operating cash flow was stable. China Lilang expects earnings for the 2015 and 2016 fiscal years to increase by 12.8% and 14.1%, respectively.
The appreciation of the dollar into the industry is good
At present, a number of textile and apparel companies have announced 2014 financial statements and generally performed well. Insiders pointed out that the appreciation of the US dollar against the renminbi is conducive to apparel export enterprises. At the same time, the garment industry has experienced destocking and reduced operating costs. In addition, the transformation and development of network operations has led to an increase in the performance of apparel companies, all of which contribute to apparel sales. The industry is picking up.
Recently, the dollar has risen to a high level since September 2003. In the context of a strong dollar, the textile and apparel industry is expected to be a beneficiary.
According to data from the China Textile Import and Export Chamber of Commerce, in 2014, China’s textile and apparel trade with the United States increased by 7.3% to US$45.57 billion. Among them, exports grew by 7.5% to US$44.74 billion, imports fell by 3.7% to US$840 million, and the surplus grew by 7.7% to US$43.9 billion.
Changjiang Securities pointed out that after two or three years of inventory processing and continuous transformation, the brand apparel company inventory levels have decreased, and gradually improve. Enterprises continue to improve their transformation, change the extensive business model of the past to fine-scale operations, and gradually adapt to the needs of the new market. At the same time, companies with poor or weak operating capabilities have obvious disadvantages in the competitive environment. The textile and apparel industry is closely related to e-commerce, and the transition to Internet business will be the most important catalyst for the performance of apparel companies and the performance of stock prices.
On the 11th, Peak Sports announced its annual performance report as of the end of December 2014. In the same year, it achieved a net profit of 321 million yuan, a year-on-year increase of 31.3%. In addition, listed companies such as 361 Degrees, China Lilang and other textile and clothing companies have also announced their financial reports in succession, and their performance has generally grown at different levels. Analysts pointed out that export pull, destocking, and business transformation are the main factors that boost the performance of textile and apparel companies.
Corporate earnings generally improved
Peak Sports' earnings per share for FY2014 was HK$0.1528; the final dividend interest was HK$0.08, which was higher than the dividend of HK$0.06 in the same period of last year. In FY2014, Peak Sports' turnover increased by 8.75% year-on-year to RMB 2,841 million; gross profit increased by 16.45% year-on-year to RMB 1,079 million; gross profit margin was 38%, up 2.5 percentage points year-on-year; net profit margin increased by 2 percentage points year-on-year. 11.3%.
The financial report shows that last year, Peak's sales of sports footwear products increased by 6%, and the average selling price increased by 3.9%; sales of apparel products decreased by 4.9%, and the average sales price increased by 13.7%. The average inventory turnover days decreased from 81 days in 2013 to 74 days at the end of last year.
On the 10th, 361 Degrees also announced its annual results as of the end of December last year. The company achieved a net profit of 398 million yuan, an increase of 88.22% year-on-year; its earnings per share was 0.192 Hong Kong dollars. In fiscal 2014, turnover at 361 degrees increased by 9.01 to 3.906 billion yuan year-on-year; gross profit increased by 12.68% year-on-year to 1.597 billion yuan; gross profit margin increased by 1.4 percentage points from the same period in 2013 to 40.9%. Last year, the sales of 361 degrees footwear, apparel and accessories increased by 10.9%, 2.8% and 8.4% respectively.
361 degrees pointed out that in fiscal year 2015, the company's inventory problems will gradually improve, the level of in-store inventory gradually normal, retail discounts have also been narrowed. In addition, a clearer strategy will be developed for e-commerce. At present, 361 degrees has opened flagship stores in Jingdong, Tmall and Haolebu, and plans to launch exclusive products in the future.
Belle International recently announced that for the fourth quarter of the 2014-2015 financial year ending in February 2015, the same-store sales decline in footwear from the third quarter narrowed to 4.2% from 5.6% in the third quarter, while same-store sales in sports and apparel business rose 10.9% year-on-year. Better than expected. BOCOM International released a report saying that Belle’s strong resistance to shocks was mainly due to the fact that the comprehensive and vertically integrated production model made the cost highly flexible, and that the diversified and multi-brand product portfolio strengthened its scale advantage. In addition, Hundred's online business achieved a balance between revenue and expenditure in 2015, and the outlook for sportswear is getting better and better, which will help resist the short-term negative impact from the footwear business. It is expected that Belle's earnings per share will grow steadily by 7% in FY16, which is higher than the 6% growth in FY15. In FY2017, EPS growth will recover significantly to 13%.
Previously, China Lilang announced its annual results for the year ended December 31, 2014. Last year's annual profit increased by 7.5% year-on-year to RMB 555 million, and its basic earnings per share for the full year was HK$0.4617.
Last year, China Lilang's turnover rose 5.8% to 2.433 billion yuan, gross profit margin remained at 42.6%; operating margin rose 2.7 percentage points to 28.0%, and net profit margin rose 0.3 percentage points to 22.8%. As of December 31, 2014, the company had a net cash balance of RMB 1.937 billion. Li Lang of China pointed out that the growth in 2014 mainly benefited from the reversal of sales of core brand LILANZ. In addition, the company continued to adjust its stores, resulting in a net decrease of 376 stores throughout the year. The operating efficiency of the company improved, and the operating cash flow was stable. China Lilang expects earnings for the 2015 and 2016 fiscal years to increase by 12.8% and 14.1%, respectively.
The appreciation of the dollar into the industry is good
At present, a number of textile and apparel companies have announced 2014 financial statements and generally performed well. Insiders pointed out that the appreciation of the US dollar against the renminbi is conducive to apparel export enterprises. At the same time, the garment industry has experienced destocking and reduced operating costs. In addition, the transformation and development of network operations has led to an increase in the performance of apparel companies, all of which contribute to apparel sales. The industry is picking up.
Recently, the dollar has risen to a high level since September 2003. In the context of a strong dollar, the textile and apparel industry is expected to be a beneficiary.
According to data from the China Textile Import and Export Chamber of Commerce, in 2014, China’s textile and apparel trade with the United States increased by 7.3% to US$45.57 billion. Among them, exports grew by 7.5% to US$44.74 billion, imports fell by 3.7% to US$840 million, and the surplus grew by 7.7% to US$43.9 billion.
Changjiang Securities pointed out that after two or three years of inventory processing and continuous transformation, the brand apparel company inventory levels have decreased, and gradually improve. Enterprises continue to improve their transformation, change the extensive business model of the past to fine-scale operations, and gradually adapt to the needs of the new market. At the same time, companies with poor or weak operating capabilities have obvious disadvantages in the competitive environment. The textile and apparel industry is closely related to e-commerce, and the transition to Internet business will be the most important catalyst for the performance of apparel companies and the performance of stock prices.
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