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Q4 revenues & PurCotton sales up at Winner Medical
15 Nov '10
4 min read
As of November 12, 2010, Winner Medical owned and operated 23 PurCotton chain stores in major cities in Guangdong Province, including Shenzhen where the corporate headquarters are located. PurCotton stores are primarily located in downtown shopping malls. The stores range in size from 160 to 650 square feet. In order to build a healthy and sustainable retail business, the Company was slowing down the pace of chain stores opening during the third quarter.
After a quarter's careful evaluation on store location and size, product packaging and pricing, brand image, customer service and marketing, the Company has clearer operating and financial metrics. The Company started opening new stores in Guangzhou and other main cities in Guangdong province. It expects to open new stores in Beijing and Shanghai in November and December 2010, respectively.
In July 2010, the Company opened its first online PurCotton store, featuring its entire array of products on Taobao.com, the largest online trading platform in China. This is the Company's first initiative to establish PurCotton Business-to-Consumer (B2C) online stores in order to address the consumers' evolving shopping preferences. In September 2010, the Company also built its own B2C trading website, which is co-branded through its retail stores. Management expects these online initiatives to further strengthen PurCotton's brand awareness and generate incremental sales to new customers.
Customer feedback continues to be excellent as the superior quality and functionality have been embraced. Furthermore, we are confident the price points are structured to ensure additional market share gains. The Company is expanding capacity to support future growth in this important product category.
Preliminary Fiscal 2011 Guidance
Winner Medical expects its total revenues in fiscal year 2011 to be in the range of $138 million to $150 million, representing a 20-30% year-over-year increase. This forecast reflects Winner Medical's current and preliminary view, which is subject to change.
After a quarter's careful evaluation on store location and size, product packaging and pricing, brand image, customer service and marketing, the Company has clearer operating and financial metrics. The Company started opening new stores in Guangzhou and other main cities in Guangdong province. It expects to open new stores in Beijing and Shanghai in November and December 2010, respectively.
In July 2010, the Company opened its first online PurCotton store, featuring its entire array of products on Taobao.com, the largest online trading platform in China. This is the Company's first initiative to establish PurCotton Business-to-Consumer (B2C) online stores in order to address the consumers' evolving shopping preferences. In September 2010, the Company also built its own B2C trading website, which is co-branded through its retail stores. Management expects these online initiatives to further strengthen PurCotton's brand awareness and generate incremental sales to new customers.
Customer feedback continues to be excellent as the superior quality and functionality have been embraced. Furthermore, we are confident the price points are structured to ensure additional market share gains. The Company is expanding capacity to support future growth in this important product category.
Preliminary Fiscal 2011 Guidance
Winner Medical expects its total revenues in fiscal year 2011 to be in the range of $138 million to $150 million, representing a 20-30% year-over-year increase. This forecast reflects Winner Medical's current and preliminary view, which is subject to change.
Winner Medical Group Inc
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