Belle'S Number Of Stores In The First Half Of 2010 Increased By 13.3% Year On Year

On September 25, BELLE International (14.98, - 0.16, - 1.06%, real time quotation of economic communication) Group is mainly engaged in manufacturing, agency and retail Sales of shoes and related products. Its business can be roughly divided into footwear business and sportswear business. As the largest shoe retailer in China, Belle has a high brand awareness among Chinese customers. Supported by the growth momentum of economic environment, the company management Profit increased by 44.5% to RMB 1828.4 million. However, considering the high base in the second half of last year, it is expected that sale Growth may not remain high.

The gross profit margin expanded, and the net profit in the first half of 2010 increased by 37.0% year on year. Due to the changes in the average price and product structure, Belle's total revenue increased by 19.8% year on year in the first half of 2010, reaching 1.525 billion yuan, of which the gross profit margin increased by 3.2 percentage points, accounting for 55.6%.

The total number of stores is expected to exceed 13000 in 2013. In the first half of 2010, the company added 703 new stores, accounting for 13.3% year-on-year growth, and the total number of stores reached 10315. The management said that the retail network will expand at an annual rate of about 10.0% in the next three years. It is estimated that the total number of stores will exceed 13000 in 2013.

Existing brands have become the main source of income for footwear, and newly acquired brands have strong growth momentum. Belle Shoes' revenue accounted for 59.4% and 60.3% respectively in 2009 and the first half of 2010. In the first half of 2010, newly acquired brands grew strongly, surpassing existing brands, especially Senda and Best Buy, and growing faster than existing brands.

First line brand sportswear has grown rapidly. In the first half of 2010, the contribution of sportswear division accounted for 39.7% of the total revenue, which was lower than 42.9% in the same period of last year. New stores are mainly in the form of first-line brand stores, such as Nike and Adidas, which are more profitable. Due to the increasingly fierce competition, we believe that in the next few years, the sales growth of sportswear in the same store may be maintained at a low number of units.

In the future, the average price of products will increase by the number of medium units. The same store sales of shoes and sportswear increased by 18% and 4% respectively. At the same time, as the same store sales growth in the first half of the year was higher than expected, the company increased the same store sales growth from 10% to 15%. The management said that the average price of products this year ranged from 400 to 500 yuan, and the company's goal was to increase the number of units in the next few years.