"50" Clothing Retail Sales Increased By 4.7% Compared With August, Leading The Shanghai Composite Index.

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< p > data tracking: in August, the retail sales of 50 key large retail enterprises increased by 9.9% over the same period last year.

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< p > > a target= "_blank" href= "//www.sjfzxm.com/" > clothing < /a > retail sales increased by 4.7% over the same period last year.

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< p > industry view: < a target= "_blank" href= "//www.sjfzxm.com/" > textile < /a > manufacturing: weak recovery.

Orders continued to pick up year-on-year, but the improvement in gross margins was still affected by fluctuations in cotton prices.

Home textiles: the terminal inventory pressure tends to be reasonable, and some companies' channel inventory is below normal level (thanks to the inventory efficiency of the electricity supplier channel).

High-end women's clothing: outlet to inventory capacity exceeds expectations.

Some companies' corporate governance structure, internal process optimization, and meticulous management capabilities should be upgraded to recommend the group.

Outdoor: still maintained a relatively stable growth, 13Q1, Q2 growth of 36.47%, 33.96%.

< a target= "_blank" href= "//www.sjfzxm.com/" > shoes < /a > category, men's clothing: the deterioration of terminal retail begins to pmit to the report, and the adjustment of the report is just beginning (the balance sheet deteriorates and starts to pmit to the profit table).

It is estimated that the growth rate of futures orders for men's clothing and clothing will continue to decline over the next 14 years.

Fast fashion (cheap casual wear): readjust to the second half.

The balance sheet adjustment is over and the profit statement is adjusted to the second half.

Intra industry differentiation, some companies to inventory basically ended, short term bad release.

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< p > stocks: recommend the leading companies in the textile manufacturing industry (Lutai A and so on) and < a target= "_blank" href= "//www.sjfzxm.com/" > brand clothing > /a > plate robust company (rich Anna, Rand, home textiles).

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< p > recent data: 2014 spring and summer products ordering society, "100 home" retail data.

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< p > stock price performance < /p >

P > last week, the Shanghai Composite Index rose 4.50%, the textile and garment sector rose by 4.44%, of which the textile plate rose 1.33% and the garment plate increased by 7.72%.

Last week, the leading companies in the sector were: red bean, keno technology, bar Jie, a target= "_blank" href= "//www.sjfzxm.com/" > clothing "/a" and YOUNGOR, or 43.75%, 23.45%, 15.56%, 14.6%, 14.18% respectively.

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< p > raw material prices. Last week, the average price of the 328 cotton index in the week was 19143 yuan / ton, the average price of Zhou Chengjiao dropped by 0.04%, and the total price fell 0.32% in the beginning of this week.

The external cotton Cotlook:A index rose 0.75% last week, and has risen 7.56% since the beginning of this year.

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< p > inside and outside cotton price difference: our calculation results show that the price of cotton is 5119 yuan / ton inside and outside.

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< p > last week, the price difference between 40S yarn and 328 was 11557 yuan / ton.

The weekly decline of polyester staple fiber, polyester POY, polyester FDY, polyester DTY, viscose staple fiber and human cotton yarn 30S in chemical fiber products is -0.44%, -0.23%, -0.21%, 0%, -0.78% and -0.61% respectively.

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< p > industry dynamics < /p >

< p > 1) 01234.HK "LILANZ" 2014 spring and summer orders decline in the number of units decreased; 2) BELLE 700 million yuan to buy local leisure men's shoes brand SKAP; 3) KarlLagerfeld will be fully stationed in the first market of China's Beijing business; 4) Switzerland's peak group performance: Global growth, but China's decline.

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< p > risk warning < /p >

< p > domestic terminal consumption is low, the risk of clothing consumption reduction is reduced; the fluctuation of external demand affects the risk of export.

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