Seven wolf steady development terminal sales gradually warmer

In the quarterly report of Seven Wolf men's clothing, accounts receivable increased by 33% from the beginning of the year to 454 million, reflecting the increase in the credit line granted by the company to franchisees due to the peak period of spring and summer shipments; Supporting Profits for Franchisees Channels for Win-win With the advance of the Spring Festival leading to the shortening of pre-holiday peak seasons, cold springs and rainy days, many negative factors have gradually disappeared.

The company said that the company’s sales in the second quarter will gradually go out of the downturn in the first quarter, and the same store’s growth rate in the second quarter will increase from the low single digit in January-March to 15% in April. We expect the first-half year-on-year growth rate of revenue to be maintained at over 20%, and the year-on-year growth of net profit is expected to reach 40%.

Seven wolves men's mentors will increase their support for the franchisees market, actively implement the "wholesale" to "retail", and increase the franchise subsidies to stimulate its expansion.

1. Directly support high-quality distributors with self-owned funds in the form of entrusted loans to solve the capital problems that distributors need most;

2. Increase the subsidies for new stores, basic decoration and props;

3. In the purchase discount, the company and the provincial generation, large client franchisees (order limit 3 million or more) signed a tripartite agreement to ensure that the company and the provincial generation of profit can be directly implemented to the franchisee, thickening the franchisee's profitability, In order to offset the escalation of their profits in recent years, rent increases.

The Sephora Company will adjust its product structure and reduce raw material costs. It will promote gross profit margins to increase terminal prices in 2012 to maintain high prices and reduce costs, which will help increase gross margins. At the same time, in the product structure of seven wolves in 2011, red and green products The proportion is about 70%, and the highest gross mark of black marks is more than 20%. It is planned to increase the proportion of black marks to 50% in 2012, and product mix adjustment is expected to further increase the overall gross profit margin.

According to the relevant data, the gross profit rate of seven wolves in the first quarter of 2012 increased by 3.13 percentage points year-on-year to 43.76%, and we expect that the gross profit rate for the whole year is expected to maintain at a level of around 44%.

In this regard, seven wolves company said: the increase is about to end, the expansion of the channel is expected to force again in 2012, a net increase of 451 sales terminals to 3,976. In the first quarter of 2012, fewer than 100 new stores were opened, but since the 2-3 quarter is the peak season, new stores are expected to maintain a stable level of around 10% throughout the year.

In addition, the Septwolves company is implementing a non-public offering, raising 1.8 billion yuan for purchasing and leasing 1200 stores, with the aid of a fixed increase; extension expansion is expected to re-strengthen, which will benefit seven wolves to increase market share, increase direct sales, and better display brands. Image. At present, the increase is about to end, and the factors that suppress the stock price in the early period are expected to disappear.

And ordering will lock in performance growth, channel integration and long-term development, optimistic about long-term development, reiterating Buying rating at the same time the extension of expansion.

Seven wolves men's clothing will continue to focus on "wholesale" to "retail" transformation strategies and strengthen fine management. At the same time, it plans to integrate some provinces and provinces. It is still in the process of collating accounts. We believe that the rationalization channel is the development of the company. A leap forward, this measure is beneficial to the long-term, can achieve the unification of the interests of the company and the provincial generation, is conducive to long-term and stable development.

It is reported that seven wolf men's clothing in 2012 both orders have been held in spring and summer, the amount of the order will increase by 30%, of which 15-20% price increase; autumn and winter orders will be joining the amount of orders is expected to increase 25-30%, 30% increase in direct management Around, beyond market expectations; two orders will lock in performance growth margin of safety.