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Solid Apparel Retail Industry is downturn Septwolves continued to decline in profits



Solid Apparel Retail Industry is downturn ,Septwolves continued to decline in profits

Recently, Fujian SEPTWOLVES Industry Co., Ltd. (hereinafter referred to as the "wolf") released the first quarter performance report in 2016 .

It shows that:
Due to falling orders, the net profit of the company in the first quarter of 2016 is 6.4 million RMB, down 5.18%.
During the reporting period ,the operating income of Septwolves achieve 0.7085 billion RMB, an increase of 11.05%; 
Net profit is 643.805 million RMB, decrease 5.18% within the same period.
Septwolves said that :
The net profit of the company will continue to decline.
It is expected that month net profit from January to June in 2016 is 892 billion RMB, drop 20% compared to the same period.
 Recently ,Septwolves released performance report in the first quarter of 2016.
It shows that ,

net profit of the company in the first quarter of 2016 is 6.4 million RMB, decrease 5.18% within the sane period.
Septwolves explained that :
Customer orders decreased in 2016, so the achievement of the first half of the year decreased compared it was last year.
In fact, Septwolves performance continues to decline, and continuous closed shop since 2013.
According to public information ,the terminal stores of Septwolves is 3155 in the first half of the year.
 The first half of 2015, the terminal stores of Septwolvesis 2636, decrease of 519 compared with last year.
According to Financial Report of Septwolves:
Revenue and net profit of Septwolves fell 20.23% and 32.44% respectively in 2013 ;
Revenue  and net profit of Septwolves fell 13.79% and 23.84% respectively in 2014;
Although the business income of Septwolves is 2.46 billion RMB, an increase of 3.02%.
But net profit of Septwolves is only 0.27 billion RMB , continue to decline 5.63%.
The important reason for the decline in performance of Septwolves  over the past three years.
Solid apparel retail industry is downturn.
The company is constantly restructuring and reform.
 Septwolves said that :
In 2015, the revenue growth is mainly due to the company's new textile business, but the gross margin of the textile business is lower.
The impact on net profit and total profit during the reporting period is small.
At the same time, the adjustment process of Septwolves and the wholesale mode transition and reform are affected the original business income and profits.

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TAG: Solid Apparel Retail Industry in China

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