Women Shirts,Women'S Printed Shirt,Women'S Shirt,Loose Fitting Women'S Shirts Shaoxing Shangju Textile Co., Ltd. , https://www.shangjutex.com
Improve the sales performance of men's brand domestic market improved
In recent months, several men's clothing companies have released their third-quarter financial reports. According to the data disclosed, the domestic market has shown gradual improvement, leading to more substantial growth in the operating performance of these brands. The positive results for the third quarter were particularly impressive, with one company reporting a net profit of 63.0878 million yuan, representing a 121.86% year-over-year increase. Over the first nine months of the year, the company's net profit reached 103 million yuan, up 81.73% compared to the same period last year.
Another major player, Septwolves, also released its quarterly report. In the third quarter, the company achieved a revenue of 576 million yuan, a 94% increase from the previous year, and a 48% rise in net profit. Its net profit attributable to listed shareholders was 38 million yuan, up 113%, while the chain store sales grew by 42%. However, during the first six months of the year, both revenue and net profit only increased by 4% and 10%, respectively. By the end of the first three quarters, Septwolves' total revenue stood at 1.456 billion yuan, a 27.62% increase, and net profit reached 133 million yuan, up 28.74%.
While Youngor’s third-quarter performance appeared relatively modest compared to its peers, it still saw significant growth. Revenue for the third quarter was 2.748 billion yuan, down 0.77% year-over-year, with chain sales declining by 2.3%. However, net profit rose to 332 million yuan, an increase of 55.3%. Notably, despite challenges in clothing exports during the first three quarters, Youngor managed to maintain growth through strong domestic sales.
The overall improvement in the men’s apparel sector is widely recognized as a result of various proactive measures taken by companies in response to the financial crisis. More importantly, the gradual recovery of the domestic market has played a crucial role. Jiang Hengjie, Executive Vice President of the China National Garment Association, stated that the current apparel market is highly active, and the industry is beginning to stabilize and gain momentum. This year, while garment exports declined nearly 10%, domestic sales increased by 20%, showing a clear upward trend.
Jiang also pointed out that due to the impact of the international financial crisis, consumer confidence in European and American markets suffered significantly last year, leading to a drop in export orders and even forcing some small businesses to shut down. In response, Chinese garment companies actively focused on the domestic market and improved product quality. Industry experts believe that the fourth quarter, known as the peak season for winter clothing, will further boost men’s wear performance. Moreover, domestic consumption is expected to remain the main driver of growth in the long term.
Jiang added that in the first half of 2009, there was still pent-up demand in the domestic market, which would be released during holidays such as New Year's Day. Additionally, he noted that the sales in the first three quarters mainly included spring and summer collections, with relatively low average product prices. In contrast, the fourth quarter features winter clothing, which typically has higher unit prices, further stimulating market demand. The rising PPI index may soon translate into higher consumer prices, signaling continued growth in the sector.