Can Winter Be Far Behind In Spring? The Investment Opportunity Of Clothing And Textile Is About In Spring

Post cyclical nature of consumption, and clothing Generally, goods are prepared 3-6 months in advance (the dealer order meeting mode is the main mode, and the order is locked 6-9 months in advance), which makes Clothes & Accessories The cyclical characteristics of stock performance growth are more obvious. The general background of stock in advance and poor terminal demand since last September directly led to the general characteristics of the third quarter report:

Income growth and profit growth can still be maintained, but accounts receivable and inventory increase. On the whole, if the terminal demand environment and climate continue to be uncoordinated, it will restrict the performance growth in the spring and summer of 2013. The more clear investment timing of the apparel industry is in the first half of 2013.

stay investment In terms of logical choice, two ideas can be followed: one is the logic of high growth, that is, the company's size base is low, and fast expansion through channels, especially through the franchise model, can achieve rapid growth in revenue and profit in the short term (2-3 years); For example, Souyute and Pathfinder, what the market needs to further study is the profitability and expansion potential of dealers. The second is the logic of stable growth, that is, the company has a high scale, but has formed a high barrier to brand entry, and the overall channel expansion speed is relatively slow, mainly due to the increase in added value brought by brand promotion; For example, the market needs to further study the enhancement potential of brand added value.

about spin Garment manufacturing enterprises are at their worst. Whether it is the price of orders, the quantity of orders received, or the performance of enterprises, this wave of recovery is very slow, or is at the bottom of the L-shaped stage.