Clothing Sales Continue To Improve

By sector: online sales in all sectors improved significantly in March from February, with sportswear best showing a 15% increase. Under the influence of the epidemic, the offline sales of apparel enterprises are in a low level, and the majority of apparel enterprises choose to increase their sizes online. Under the active marketing, the online clothing sales are obviously boosted. Especially the leading sports brands, digital transformation and online consumer operation effect is good.

Industry pattern, continued the share to the head of the brand concentration trend. Especially in sports and children's wear two industries: 1) children's wear, the leading position of barabbas is stable, market share far ahead of other brands. 2) sports apparel CR10 continues to improve, and adidas continues to perform strongly, with domestic brands anta and li ning ranking top and relatively stable.

In March 2020, under the strategy of focusing on online sales and new retail, the online sales of most listed company brands achieved positive growth. In the first quarter, li ning's retail sales (excluding li ning YOUNG) fell by 10%-20% year on year, among which the e-commerce business grew by 10%-20%. Anta sports performed well in the first quarter: anta brand water down 20% to 25%; The number of units in the FILA brand declines; Other brands high unit number decline; All major brands of e-commerce have achieved good growth.

Investment advice: long-term advice to focus on the two main lines: one is the long-term prosperity trend of sports apparel does not change, it is recommended to continue to focus on li ning, anta sports. Second, the textile manufacturing enterprises with high quality customers, most of the customers of shenzhou international and gensheng group are foreign sports and outdoor brands. The high quality production capacity ensures sufficient orders, and the certainty of performance growth is still high in the case of the epidem

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