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The Domestic Consumer Market Has Recovered Steadily, And The Performance Of Baoxiniao And Other Textile And Clothing Industries Is Expected To Be Good

2024/1/31 14:12:00 1

Listed Company

In the context of the recovery of the terminal consumption environment, the textile and clothing listed companies such as Sima Garments, Seven Wolves, and Baoxiniao issued their performance pre increase announcements.

On the evening of January 29, Sima Garments released its annual performance forecast for 2023. The company expects to achieve a net profit of 1.06 billion yuan to 1.16 billion yuan in 2023, up 66.41% to 82.1% year on year. Non net profit was deducted from 970 million yuan to 1.07 billion yuan, up 95.04% to 115.15% year on year.

As for the reasons for performance changes, Sima Clothing said that during the reporting period, the company continued to promote organizational reform, model innovation, process reengineering, strengthen the organizational capacity of retail business, comprehensively promote the implementation of new retail models, achieve mutual empowerment of online and offline, direct and franchise businesses, improve the quality and efficiency of the company's operations, and increase the gross profit margin of sales year on year, Gross profit increased year on year; The company's inventory operation efficiency improved year on year, inventory turnover days decreased year on year, ending inventory balance decreased year on year, and asset impairment losses decreased year on year. On the evening of January 29, Seven Wolves simultaneously disclosed the annual performance forecast for 2023. It is estimated that the net profit in 2023 will reach 241 million yuan to 301 million yuan, up 60% to 100% year on year. Non net profit deduction reached 169 million yuan to 211 million yuan, up 60% to 100% year on year.

Septwolves said that during the reporting period, the terminal consumption environment recovered, the company's operating revenue increased, terminal discounts were effectively controlled, and the gross profit margin of products increased, so the total profit increased over the same period last year.

Prior to this, Baoxiniao (002154) released the 2023 annual performance forecast on January 26, and expected to achieve a net profit of 688 million yuan to 734 million yuan in 2023, with a year-on-year increase of 50% to 60%. Non net profit deduction reached 586 million yuan to 632 million yuan, up 56.57% - 68.82% year on year. As for the reasons for the changes in performance, Baoxibird said that during the reporting period, the company actively promoted the implementation of the business plans of various brands, and continued to improve its product strength, channel strength, brand strength and operation strength. All brands under Baoxibird, Haggis, Baoniao, Lefeiye, Kaimitche and other brands achieved growth over the same period last year, and the main business income achieved good growth. During the reporting period, the company continued to carry out product innovation and upgrading, improve product quality, strictly control terminal discounts, and achieve rapid growth in direct marketing channels and increase gross profit margin.

The above companies are expected to achieve year-on-year growth in 2023, which is inseparable from the recovery of the domestic consumer market.
After three years of epidemic, the domestic consumer market will maintain a stable recovery trend in 2023 with a series of consumption promotion policies continuing to work effectively.
According to the statistics released by the National Bureau of Statistics on January 17, the total retail sales of consumer goods in 2023 will be 47149.5 billion yuan, an increase of 7.2% over the previous year. By type of consumption, retail sales of goods reached 41860.5 billion yuan, up 5.8%; Catering revenue was 5289 billion yuan, up 20.4%. The sales of basic living commodities grew steadily, and the retail sales of clothing, shoes and hats, knitwear and textiles, grain and oil, and food commodities of units above the designated size increased by 12.9% and 5.2% respectively.
In 2023, the national per capita consumption expenditure will be 26796 yuan, a nominal increase of 9.2% over the previous year, and an actual increase of 9.0% after deducting the impact of price factors. The per capita clothing consumption expenditure was 1479 yuan, up 8.4%, accounting for 5.5% of the per capita consumption expenditure.
Sima Garments has previously said in its survey that market sales have recovered, basic living and upgrading commodities have sold well, online consumption has grown rapidly, and service consumption demand has continued to release. The offline passenger flow gradually rebounded, and new consumption scenarios such as featured commercial blocks and brand experience stores emerged, driving the continuous improvement of physical store operation.
In the latest research report, Soochow Securities believes that the textile and clothing industry will achieve brilliant performance in 2023 thanks to the post epidemic rehabilitation. In 2024, the growth rate of overall clothing consumption will slow down compared with 2023 due to the increase of the base and the downturn of the overall consumption environment. However, structural repair will continue, and new trends will bring new opportunities.

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