Home / Knowledge / News / Apparel/Garments / Q4 '13 sales down 8.6% at China Xiniya Fashion
Q4 '13 sales down 8.6% at China Xiniya Fashion
19
Apr '14
China Xiniya Fashion Limited, a leading provider of men's business casual apparel in China, reported financial results for the fourth quarter and for the full year 2013. 
 
Fourth Quarter 2013 Highlights
- Revenue during the fourth quarter of 2013 decreased 8.6% to RMB486.9 million, from RMB532.5 million in the fourth quarter of 2012; within the prior guidance range of (12)% to (8)%.
- Gross margin was 29.4% in the fourth quarter of 2013 as compared to 33.3% in the fourth quarter of 2012. 
- Net profit in the fourth quarter of 2013 decreased by 11.9% to RMB49.0 million, from RMB55.6 million in the fourth quarter of 2012.
- Earnings per ADS were $0.14 in the fourth quarter of 2013 as compared to $0.16 per ADS in the fourth quarter of 2012; exceeded the prior guidance range of $0.05 to $0.09 per ADS.
- Xiniya's network of authorized retailers had a net reduction of 52 retail outlets in the fourth quarter of 2013; consisting of 43 new retail outlets opened, and 94 retail outlets and one flagship outlet closed. As of December 31, 2013 the total number of authorized retail outlets was 1,583. 
 
Full Year 2013 Highlights
- Total revenue in 2013 decreased by 4.5% to RMB1.32 billion, as compared to RMB1.38 billion in 2012.
- Net profit in 2013 decreased by 44.6% to RMB97.2 million, as compared to RMB175.5 million in 2012.
- Earnings per ADS were $0.28 in 2013, as compared to $0.49 in 2012.
- A net total of 127 retail outlets were closed during the full year of 2013, consisting of 213 new retail outlets opened, and 338 retail outlets and two flagship outlets closed.
 
Recent developments
The Company will hold its Fall/Winter Collection Sales Fair in mid April 2014, in Xiamen City, Fujian Province. During the sales fair, the Company's distributors and authorized retailers will view the newest collection and place their orders. The Company will deliver the orders to its distributors primarily during the second half of 2014, upon which the distributors will then either deliver these products to their authorized retailers or sell them in their own retail outlets.
 
Guidance
Revenue in RMB for the first quarter of 2014 is expected to decrease by 11% to 7% compared to the first quarter of 2013. Earnings per ADS in the first quarter of 2014 are expected to be in the range of $0.03 to $0.07.    
 

China Xiniya Fashion

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search