Textile And Garment Terminal Sales Growth Trend Is Expected To Continue To Rebound

< p > up to the beginning of the year, the textile and garment sector has dropped by 30.3%.

Under the background of terminal consumption downturn, the main reason for the weaker trend of the plate is that the market is worried about the a href= "//www.sjfzxm.com/news/index_h.asp" > inventory < /a > higher and the limited ability of future product raise.

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< p > < strong > the first three quarters of the performance division is obvious < /strong > < /p >.

< p > the results of the first three quarters of the textile and garment sector were significantly divided. < a href= "//www.sjfzxm.com/news/index_f.asp" > men's wear > /a > more robust, home textiles improved by quarter, casual wear still faces greater pressure.

In the first three quarters of the slowdown in terminal consumption, brand clothing in the first three quarters of the division of performance is obvious, with higher growth and excellent management capabilities of the company performed better.

Brand men's wear and < a href= "//www.sjfzxm.com/news/index_x.asp" > men's shoes < /a > relatively stable performance (the first three quarters of revenue growth was 29.3%, 16.3% and 14.7% respectively, net profit growth was 32.5%, 42.2% and 25.1%), brand home textile income rebounded quarterly (6%, 12.9%, 21.3%) in the first three quarters, casual dress is still facing greater competition pressure.

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< p > < strong > clothing sales warming up < /strong > /p >

< p > clothing sales increased by 14.21% in October. The growth trend of terminal sales growth is expected to continue under the combined effect of low base and the lag of the Spring Festival.

In the first three quarters of 2012, the total retail sales of the major retail enterprises in China increased by 11.2%, representing a 10.8 percentage point lower than that in the same period in 2011, and the volume of retail sales increased by 1.7% over the same period last year, which is 5.06 percentage points lower than that in the same period in 2011.

In the same period of 2011, the combined retail sales volume increased by 14.21% over the same period in October. The number of retail sales increased by 2.38% over the past month.

Due to the lower base level in the fourth quarter of 2011, and the lag of the Spring Festival in 2013 will help to prolong the sales period of autumn and winter wear, the trend of terminal sales growth in the four quarter of 2012 and the first quarter of 2013 is expected to continue.

The time for industrial investment may be in the mid 2013, and the best stocks with high growth and management capabilities are preferred.

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< p > < strong > timing layout growth stock < /strong > /p >

< p > at present, the key brand clothing companies of A shares correspond to the average PE of A PE12.86 times less than 14.68 times of H-shares.

The promotion of valuation depends on the improvement of terminal sales and the improvement of enterprise inventory data.

The growth of terminal sales in the four quarter of 2012 and the first quarter of 2013 is expected to continue.

Considering the lagging nature of business performance relative to industry boom, industrial investment opportunities may occur in the middle of 2013.

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< p > < strong > callback follow up cycle stock < /strong > /p >

< p > Haitong Securities issued Research Report on February 11th, began to continue to publish economic data at the weekend, further confirm the bottom of the economy, plus the leaders' recent frequent release of reform signals to boost market confidence, and the market rapidly rose.

However, from the point of time, in the past 22 years, the spring festival began to start in February at the beginning of the year, and in January, the first half was 12 months, and the Spring Festival started at the beginning of January.

This is related to the lunar solar terms affecting the commencement process. The Spring Festival starts early and the market starts frequently.

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< p > Haitong Securities said that the Spring Festival in 2013 was in February, and it is only in early December. From this perspective, even if the market finally came to the end of the festival, it may still need time to rub the floor in the short term, and the price of cement and coal has also been observed on the micro level, and the market continues to grow.

Therefore, if the market is callback later, it is a good opportunity to follow up the cycle. If the market does not rise directly, then the market will probably end early.

It is recommended to pay attention to the oversold stocks and industries. If the market ends early in the year, more consumption may be a better choice.

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