Fashion Apparel Retailer I.T Net Profit Fell Sharply In The First Half Year

< p > > Hongkong a href= "//www.sjfzxm.com/news/index_c.asp" > Fashion Dress < /a > retailer I.TLimited. (0999.HK) released the interim results report this year, cashing out the earnings warning issued on Tuesday.

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< p > in the first half of August 31, 2013, net profit of I.TLimited. (0999.HK) decreased by 76.8% to HK $28 million 100 thousand compared with the same period last year, and the earnings per diluted share decreased by 76.8% to HK $0.022 compared with last year.

The group decided not to distribute dividends to retain cash and working capital.

The group explained that the key factor of the sharp decline in net profit was the < a href= "//www.sjfzxm.com/news/index_c.asp" > the main business area of the group, the slowdown in the retail sales of the apparel retail market < /a > slowdown, and the increase in operating costs resulting in the downward pressure on profits.

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< p > turnover in the first half of this year was HK $2 billion 939 million 600 thousand, down 0.9% from the same period last year.

Hongkong's market revenue decreased by 6.3% to HK $1 billion 594 million 300 thousand, accounting for 54.2% of the total sales of the group, and 9.5% of the same store sales. The mainland's market revenue rose 16.1% to HK $1 billion 18 million 900 thousand, mainly to provide more positive discounts, while the same store sales shrank by 1.9%. The total income of the Japanese market was HK $204 million 200 thousand, which was 23.2% lower than that of the same period last year. The income of Macao and Taiwan increased by 1.7% to 122 million 200 thousand Hong Kong dollars.

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< p > retail sales of self created brands, which accounted for 57.2% of the group's sales, decreased by 0.3% to HK $1 billion 615 million 700 thousand compared with the same period last year. The international brand retail revenue was HK $1 billion 169 million 700 thousand, an increase of 2.3% over the same period last year, while the licensed brand decreased by 58.7% to HK $40 million 500 thousand.

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< p > sales growth slowed down, discounts and operating costs increased rapidly, making earnings facing the pressure of retrogression, which reduced the gross profit margin in the first half of this year by 40 basis points to 59.2% over the same period last year.

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< p > for slowing sales, < a href= "//www.sjfzxm.com/news/index_c.asp" > I.TLimited < /a > (0999.HK), chairman and chief executive officer Shen Jiawei said that the trend is still continuing when she interviewed BoF, and the group will adopt a strategy of deceleration and expansion.

"Now we will only set up important stores, and we will combine sales points and focus on improving sales per unit area.

Making every shop profitable is more important than opening new stores, "Shen Jiawei pointed out.

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< p > I.TLimited. (0999.HK) closed at HK $2.45 in October 24th, down 0.81%.

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< p > related links: < /p >

P, founded in 1988, was originally founded by Shen Jiawei and her sister Shen Xiuhui at Green Peace, a Elizabeth House in Tongluowan, Hongkong. The sale of some famous brand costumes is very popular among fashionable people, and has set up a fashion trend among young people in the I.T.

Today, I.T has become one of the largest retail outlets of fashion brands in Hongkong. It is the "holy land" that fashion seekers and celebrities must go to.

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< p > besides high-end fashion, I.T also sells furniture, such as sofa, chair, tableware, and all kinds of suitcases. Most of them come from European famous furniture manufacturers, including Kartell, Magis, S.R.L, Vitra Internation, Folle APS, Alessi, Visaversa, S.R.L, and so on.

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< p > in order to let customers experience the Creative Aesthetics produced by the intersection of fashion products and fashion in a specific environment, interior design is designed with bright, concise straight lines and right angles. The whole decoration design takes dark color as the keynote: tea glass, mirror steel, mirrors, wood as the main materials, skillfully use the color and subtle reflection of glass, and create an elegant, fashionable and delicious shopping environment.

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