Dear Bird: Next Year, The Main Business Will Hit Bottom.

Expensive bird: channel inventory and streamline stores lead to the traditional main industry continue to adjust this year.

Although the 2014 autumn and winter orders have been restored, there is still some pressure on the terminal stock in the second half of this year, and the number of stores has also decreased. (estimated 200-300), sales continue to adjust this year (revenue is expected to drop by around 20%), and management fees are increased more frequently (with the effect of IPO, mostly due to the increase in labor costs), resulting in a simultaneous decline in profits (net profit is expected to decline by 20%+).

Although there are still some channels to be streamlined next year, the terminal retail has improved recently (the number of stores that the information system can cover has increased by about 10% in recent months), and the pressure of channel inventory has also eased to a certain extent. (from the covered stores, most of the provinces have normal storage capacity. The inventory pressure of Guangzhou, Hangzhou, Chengdu and other places is relatively large, the historical order amount is over 3 hundred million, and the estimated inventory digestion is until next April), at low base and order meeting (spring and summer 2015).

Growth is less than 10%, and the expected growth rate in autumn and winter will exceed 10%.

There will be a certain recovery, the company's revenue growth target of around 10%, and will also intensify in terms of cost control. Of course, the actual resilience of next year's performance needs to be observed in terminal retail and shipping progress. The risk is that the scale of receivables is high.

Relatively abundant, and strategic pformation of sports industry group.

At the end of the three quarter, the monetary fund of the company was 1 billion, the corporate debt was raised by 8 hundred million, and the funds were relatively abundant.

The company put forward a strategic pformation of sports industry group in the three quarterly report. In principle, it hopes that the layout will be market-oriented. The areas with strong administration will not touch. It can realize the conversion and sharing between the users of traditional sports products and the users of the new layout, and can reflect the competitive spirit of professional sports. The relevant layout is expected to be actively promoted, and the sports industry will continue to be laid out in the future.

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This year more than eleven more and more traditional brands have joined the ranks of electric providers. Double eleven is no longer just a unicorn of Amoy brands.

In response, Zhao Yingguang said: "this process is extremely painful for most of the traditional offline brands, and has left an empty space for the Internet brand.

So for the Internet brand at present, the most important thing is to make good use of this time difference to improve the internal strength, and occupy the initiative position in the future against the traditional big name market.

And the real core competitiveness of Han Du Yi house is perfect "single product whole process operation system centered on product group".

Jia Peng said: "we welcome the big brands to enter the electricity supplier, because this will attract more offline consumers to online shopping, and online and offline brands will make the online market bigger.

Although the traditional big brands have strong competitive advantages, small, beautiful and unique small brands have their own market. The key is not who will join the competition, but the first thing to do well is to manage their products well.

When many traditional brands do not pay enough attention to the channel of electricity suppliers, they must make up their time to make up for their weaknesses, such as learning the supply chain from traditional brands, so that they will have enough strength to compete with them in the future.

For the path from the online to the offline, through the O2O mode to achieve the maximization and persistence of brand value, Jia Peng said: "Han Dabie house temporarily takes a wait-and-see attitude, will still focus on the line, will not set foot in the shop, but does not exclude that after some successful cases appear, the Korean clothing house will also learn from its experience and enter quickly."