Looking for A shares in the Nike brand men's business focus Time: November 21, 2011 08:17:48 in the financial network the world's largest manufacturer of Nike sports shoes, The stock recently hit a record high. Same brand apparel stocks, A shares listed in the Smith Barney costumes (002,269), Angelo (002,154), etc. but difficult satisfactory. What Nike high, the A-share brand apparel stocks what reference? A-share market will lower the birth of a men's market is big Nike the company what is the fascination with investors so fascinated by it? The answer, 20 years nearly 23% compound growth rate. According Merchants Securities (HK) report shows that from 1979 to 1999, Nike sales compound annual growth rate of 22.6%, from 1.5 billion dollars to 87.8 billion U.S. dollars, the annual compound growth rate of 7.8 later %. Another brand of casual apparel giant GAP, in the period from 1980 to 2000 compound annual growth rate of 19.8%, from 3.7 billion U.S. dollars to 13.67 billion U.S. dollars cheap supra shoes, the subsequent compound annual growth rate of 0.3%. In contrast, the luxury goods group LVMH, 1980 ~ 2000 sales compound annual growth rate of 14.5%, next 11.1% compound annual growth rate. From here, probably we can see three types of branded apparel company's historical development trajectory. So, the future of sports brand is so much room for growth there? Merchants Securities (HK), the domestic sports market over the past 10 years has experienced a rapid development period. The end of 2009, Li Ning, $ 123 million sales in 1988, with Nike has been a considerable scale. According to the sales volume, representatives of seven national men's Ralph Lauren Wolf and the United States is still a big gap, there is still great development potential for the future. an authoritative survey, in 2010 the domestic market size of men's 440.2 billion yuan, accounting for 48% of total retail sales of clothing. Expected to reach 517.2 billion yuan in 2011, industry growth of 15%. The next three years, the Chinese men's market is expected to remain higher than the market growth rate, from 2011 to 2013 the average annual compound growth rate estimated at 15.6%, than the overall apparel market 2009 to 2013 the average annual compound growth rate of 13.3% higher, total clothing market share will increase to 51.8%. In this regard, Merchants Securities (HK) believes that the current size of either channel or sales, markets are lagging behind men's sports. Now the Mainland and Hong Kong-listed men's shop in 2010 a total of about 8684. If you maintain the speed shop in 2010, 2011, a total of 10,084 stores. Either from the speed shop, or the total number of stores, men's business market penetration is low, the future development of space. Men sporting goods market is the market value of twice the number of the shop is the sports market is currently only about 15% of the number of shops. It is worth mentioning that this year's third quarter, domestic men-than-expected performance of listed companies in general. According to the SWS report, three men-than-expected quarterly results of companies with seven wolves (002,029) and Younger (600177). From the results of growth perspective, men showed accelerated growth in the industry, mostly in the 40% net profit growth of more than 60% of which seven wolves, Angelo 56%, joeone 45%, 48% and Chinour Younger of 33%. 2011 valuation of the average PE of 25 times, 20 times less than in 2012. concerned about seven wolves, joeone then, men's domestic listed companies, which most concern? first textile network editor, a senior research fellow Wang apparel industry forward, to the Among them, the men's market pattern has settled, that in the next few years, the men's brand's market share will be relatively stable. In contrast, the casual wear competition will be fierce. Finally, to attract investment in those markets faster than the industry, positioning the company to meet market tastes. From the stock point of view, seven wolves and joeone is the most noteworthy men's brand. Which, as a leader of men seven wolves, the branding has been completed and has a stable customer, as long as its future stability of the terminal sales and stores growth, profitability continued to improve problem. To joeone, the company has focused on the manufacture of men's trousers. From the current situation, the future of the market in the country is certainly higher than the export growth rate, market capacity is large enough. broker a Northern researcher clothing anonymity, told the 2008 Olympic Games, Adidas Zengyin expanded, eventually found the problem and lead to performance subsequent inventory down. But the company through the introduction of discount store sales response system with the terminal, while the excess inventory buy-back and discount on plant sales, and gradually solve the above problems. Looking national brand apparel, seven wolves despite refinancing, but its store expansion space is still large. Meanwhile, the market demand for joeone trousers is still large. Huatai Securities believes that the seven wolves has formed a casual clothing line with current market trends and brand positioning of the brand's own business model. Company to meet the diverse needs of different types of consumers, has formed Shengwo Si, Black Label, Red Label, Green Label, Blue Label, women's, children's clothing brands such as seven series. Currently, the In addition, after the 2009 to 2010 to upgrade the internal supply chain, the company began to restart the extension-type expansion. In November, the company notice to non-public offering, raising total funds of about $ 1.8 billion for investment in the construction of all the Switch and the end of the valuation taking into account the additional effect, giving the company 23 to 25 times earnings, corresponding to 2012 EPS1.79 yuan, the next six months, price range of 41.17 ~ 44.75 yuan, given the Huatai said, joeone revenue growth continued to maintain a good volume and price growth trend, mainly due to the accelerated expansion of the company and single-store channels to enhance the performance significantly. Company gradually adjust product structure cheap Supra Skytop Shoes, high-margin products shirts, jackets than the increase in men's trousers, driving increased revenue, sales revenue during the reporting period to maintain a stable growth. Spring 2012 will be the amount of orders on year growth in line with market expectations. Net profit growth mainly due to revenue growth over cost control properly. Taking into account the company's market share of men's trousers for eleven years in the nation, promising to accelerate its expansion outside the post-marketing channels to drive sales up and the process of multi-brand, the company expects EPS for 2011 and 2013 were 0.90 yuan, 1.22 yuan, 1.40 yuan, to □. Young. can. Zhan