Daphne'S Fourth Quarter Sales Plunged 7.5%

After a brief increase in same store sales in the three quarter, yesterday, Daphne International Holdings Limited Daphne International Holdings Limited announced that the core brand business of the group dropped 7.5% in the four quarter, with a 3.4% decline throughout the year.

Sales in December were particularly weak, mainly in mainland China.

Consumption intention is still in the doldrums, and the Spring Festival in February did not support consumption before the holidays of the same period last year.

In addition, regional competition and the promotion of large-scale online shopping in the fourth quarter also hurt the same store sales.

Fourth quarter Daphne recorded an average decline in the median figure, mainly because during the period, the Group actively cleaned up over the past stock, resulting in lower average selling price, and thus significantly dragged down gross margins.

Daphne competition in the fourth quarter

The 91 one includes a net increase of 172 direct outlets and a close closure of 81 franchises.

In 2014, the total number of sales outlets for core brand business increased to 6402.

In November 2014, Bank of America Merrill Lynch (NYSE:BAC) mein Merrill had released a report that lowered the Daphne rating, from buying to neutral, and Merrill Lynch said that the shoe maker's profitability was expected to recover. Other market or downgrading of Daphne's profit forecast for the two and next year, as well as private equity TPG convertible bonds, and other unfavorable factors were all the reasons for the bank's downward expectations.

Mein Merrill Lynch is expected to be affected by the warm weather in the early four quarter. It is expected that Daphne's same store sales will continue to fall in the same quarter, while the promotion action will continue to press Daphne's gross margins to be pressurized.

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The industry is generally optimistic about the layout of the sports industry, such as "noble bird", "Xun Xing share" and "China Group".