Great Wall Securities Textile And Garment Industry Weekly Report In March
Nike's latest quarterly report: global sales increased by 3% to $10.357 billion, with sales in Greater China up 51%. On March 18, US sportswear giant Nike released key financial data for the third quarter of fiscal year 2020 / 2021 as of February 28. In the quarter, Nike's overall revenue increased by 3% year-on-year to $10.357 billion; net profit increased by 71% to $1449 billion, or $0.90 per share; and its gross profit rate increased by 130 basis points to 45.6%. In the quarter, revenue in Greater China increased by 51%; revenue in North America decreased by 10% due to supply chain challenges, container shortage and port congestion, which affected inventory flow and delivery time; about 65% of stores in Europe, the Middle East and Africa shortened business hours, with revenue down 4%; revenue in Asia Pacific and Latin America decreased by 7%.
The SW textile and clothing industry increased by 2.67%, and the SW textile and garment industry outperformed the market by 4.07pct. This week, the Shanghai Composite Index fell 1.40%, the SW textile and clothing industry rose 2.67%, and the SW textile and clothing industry outperformed the market by 4.07 PCT. Among them, SW textile manufacturing increased by 1.50%, and SW clothing and home textile increased by 3.29%. From the perspective of individual stocks, the top five stocks that rose last week were Meibang clothing (+ 42.03%), shinur (+ 21.90%), kairun (+ 21.31%), langzi (+ 13.49%) and guirenniao (+ 13.47%); the top five stocks of last week's decline were Zhongqian (- 5.41%), Zhenjing (- 5.03%), Meierya (- 3.50%), Sanfu outdoor (- 2.78%) and kanglongda (- 2.77%).
Recommended target: three main lines of clothing and home textile recommendation: (1) popular brands with "high cost performance and low line upgrading": Hongdou shares and pelaia are recommended; (2) medium and high-end brands with "stable demand + multi brand operation" are recommended
Recommend GELIS and anzheng fashion; (3) segment brand of "high scenery bearing + excellent pattern": recommend Semir clothing, Shanghai Jiahua, baby room. Jiansheng group is recommended for textile manufacturing.
Risk tips: weak end consumer demand; risk of exchange rate fluctuations; cotton prices fall or fluctuate significantly; the impact of the epidemic is too long.
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