BELLE Shoes Are More Profitable Than Other Brands.

2010/8/16 11:32:00 55

August 16th hearing for some time.

BELLE

HK1880 has two time windows worth noting: one is the quarterly review of the company just released. BELLE has become the new leader of the HSI. The new arrangement will come into force on the 6 of next month. The second is the distribution of results on the 24 th of this month.

As the mainland

Women's wear

At the end of June, BELLE had a total of 10315 shops, of which footwear stores grew by 13.3% annually, while sports wear shops grew by 2%. BELLE benefited from the layout of three to four cities. The growth rate of outlets was enough to determine the valuation level.

In the second quarter, BELLE's footwear business grew by 18% in the same store, an increase of 6% over the same period last year. It is expected that the same store sales growth will continue to grow at a higher rate in the future, and BELLE's new acquisition.

brand

For example, sales of Senda, Millie and Mirabell have improved, and profit contribution has turned to be ideal.

Multiple brands

profit

Ideal

The growth of the company also comes from the revival of sportswear business. The three to four tier cities are expected to directly drive the sale of sportswear.

As for the wage issue, the impact on the company needs to be observed at the moment, but it is initially believed that the increase in the purchasing power of consumers is enough to offset the rise in costs.

To sum up, the mainland continues to stimulate the domestic market, and the footwear industry is directly benefited by this consumption cycle. The competitive advantages of leading enterprises such as scale effect, vertical integration mode and multi brand strategy are enough to support BELLE's gross margin and growth rate over the market.

BELLE reported 12.96 yuan on Friday and 38.1 times price earnings ratio. As a leading enterprise in the industry, BELLE has a good brand effect. If the network layout is smooth, the state policy can be maintained at a relatively high growth rate, and the price earnings ratio below 40 times is a reasonable level.