Giordano's Sales In The First Quarter Of This Year Were 1 Billion 514 Million Yuan.

< p > Giordano announced that sales in the first quarter of this year were 1 billion 514 million yuan, an increase of 6% over the same period last year. Excluding sales from Middle East acquisitions in the fourth quarter of last year, sales fell by 1% over the same period last year. Weak consumer demand continues to affect sales in mainland China and Taiwan. < /p >
< p > brand sales decreased by 2% compared with the same period last year. Comparable sales growth also declined by 2%. < /p >
< p > gross profit was 905 million yuan, an increase of 11% over the same period last year, reducing the partial impact of sales decline. Excluding gross margin from acquisitions in the Middle East, gross margins remained at the same level last year. Gross profit margin increased 2.8 percentage points to 59.8% from 57% in the same period last year, due to the drop in investment cost and the restriction of price reduction. < /p >
< p > after the lunar new year, the ratio of stock to cost turnover was 63 days, which was 11 days less than that of the 74 stock held in December 31st last year. The stock of comparable inventories between the year and the ratio of cost to turnover decreased by 15 days to 67 days from March last year. < /p >
< p > net cash and bank balances increased from 130 million yuan to 1 billion 303 million yuan. Because more than 90% of profits turn to free cash flow, cash flow remains strong. < /p >
< p > group to reduce its 24 outlets. Due to the integration and relocation of the mainland's market mix, the number of outlets in mainland China has decreased by 36. Outside the mainland, the number of outlets increased by 12, mainly in the Middle East, India and Southeast Asia. The group's global sales network was 2624 stores a few days ago. < /p >