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Optimistic About Brand Clothing Enterprises

2011/10/26 8:57:00 21

Brand Men'S Wear Plate

Benefiting from the upgrading of consumption, the textile and garment industry has entered a period of rapid growth. The men's wear sector in the industry has achieved good growth in the first three quarters of 2011, and the average growth rate of net profit will exceed 40%.


1~9 months of this year, China's textile and apparel industry

Exit

186 billion 139 million US dollars, an increase of 24.3% over the same period, and the growth rate was 1.42 percentage points lower than that of 25.72% in 1~8.

Among them, the export of textiles was US $70 billion 904 million, an increase of 25.9% over the same period, and exports of clothing and accessories reached US $115 billion 235 million, up 23.3% over the same period last year.


Domestic sales data are still growing at a high speed.

The clothing prices released by the Bureau of statistics in September increased by 3.2% over the same period last year.

From January this year, the price of clothing has risen month by month, from -0.2% in January to 7, 8, September, 2.2%, 2.9%, 3.2%, and the price of urban clothing has increased more than the price of rural clothing.


GF Securities said that China's Micro evidence shows that the characteristics of consumer upgrading are obvious, 74% of consumers have consumer escalation behavior, and the characteristics of consumption upgrading are obvious. With the increase of income, the affluent's spending on clothing, footwear and accessories will be increased to 31%, and clothing expenditures will increase accordingly.


In fact, from the first three quarters of the listed companies earnings report, men's clothing industry is expected to exceed expected performance.

CICC said that the overall price rise of the plate was obvious, and the cost increase was passed on to the downstream consumers.

Sales volume

Maintain healthy growth.

It is expected that the plate will accelerate growth, and the growth rate of over 30% over the next two years will be maintained.


In terms of investment strategy, CICC believes that the performance of the seven wolves and nine Mu Wang can maintain a growth rate of more than 30%, and the valuation is more reasonable. In the next 12 months, the valuation plations can bring about 30% increase in space.

The growth rate of YOUNGOR's clothing business can be maintained at over 20%, and the peak value of real estate settlement will be in the year after next, and the asset value will be underestimated.


GF Securities recommends focusing on those with good texture.

Management

Steady growth, growth certainty, the growth rate of about 25%-35% companies, such as nine Mu Wang, Semir costumes.

In addition, in the management style inflection point, both inside and outside the repair and meticulous management on the basis of continuous extension of the company, such as the wedding bird.

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