Regional Competition In The Mass Market Is Fierce. Daphne'S Same Store Sales Plunged 16% In The First Quarter.

Daphne international pointed out that the weather was abnormal during the period, which was not conducive to the sale of seasonal goods, and the sales volume and average selling price both fell year on year. However, in view of the fierce competition in the mass market, the group decided to maintain the original new discount strategy during the new product launch.

On Monday, Daphne International Holdings Ltd reported that after the closing of the Hong Kong stock market, the sales of core brand businesses in the first quarter fell by 15.9% compared with the 1 declines in March and February, while retail sales also recorded a double-digit year-on-year decline.

However, it is benefited from the improvement of the sales mix. First quarter Gross margin has improved, in line with group expectations. E-commerce business has also maintained strong growth momentum.

At the end of the season, Daphne international core brand Sale The total number of points decreased by 14 to 6388.

Daphne international fell sharply against the market on Tuesday, the largest drop in the intraday price of 17.6%, to the end of the deadline, the stock market fell 12.98% to HK $2.28.

Bank of America Merrill Lynch (NYSE:BAC), Merrill Lynch Merrill Lynch lowered its target price from HK $3.35 to HK $3, maintaining a "buy" rating. While JPMorgan Chase & Co (NYSE:JPM), J.P. Morgan Chase has maintained a target price of HK $1.7, which has been lowered from "neutral" to "reduction". Daphne International outlook.