In The First Quarter Of 2020, Smith Barney Lost 219 Million Yuan In The First Quarter, Resulting In A Sharp Decrease In Passenger Traffic And A Decline In Revenue.

In May 2nd, the United States apparel (002269) released the first quarter report in 2020, the announcement showed that in the first quarter of 2020, the revenue was 920798329 yuan, down 46.70% compared with the same period last year, and the net profit attributable to shareholders of listed companies was -219223110.00 yuan, which changed from profit to loss in the same period last year.

Reporters learned that the operating income of the reporting period decreased by 46.70% compared with the same period last year, mainly due to the new crown disease caused by the sharp decline in passenger traffic down the line, revenue decline.

Operating costs dropped by 40% over the same period last year, mainly due to a decline in operating income and a corresponding decrease in operating costs.

Taxes and surcharges fell by 71% compared with the same period last year, mainly due to declining revenues, the need to pay taxes and the corresponding reduction.

The cost of sales decreased by 30% compared with the same period last year, mainly due to the decrease in Direct stores and the availability of rent free concessions in some shops during the epidemic.

Other revenue increased by 238% over the same period last year, mainly due to the increase in government subsidies received during the current period compared with the same period last year.

Investment income fell by 32% over the same period last year, mainly due to the fact that the rights and interests act confirmed that the decline in Huarui bank's revenue was down from the same period last year.

Statistics show that the United States is committed to brand building and promotion, marketing network construction and supply chain management, organizing its Metersbonwe, ME&CITY, Moomoo, ME&CITY KIDS, CH'IN Qi and other brand fashion casual wear products design and sales, and through offline store channels and interconnected e-commerce platform to carry out the promotion of its own brand and related fashion and leisure products sales.