Quality brand textile and apparel retail companies

After a 4-quarter adjustments, textile and apparel retail sector seven wolves, Anna Fu, Wei-Xing and lower valuation of the good news birds, seven wolves dropped by about 20.7%, Weixing about 24%, about 24.4% Anna Rich, Carolina about 15%, Meng Jie approximately 19.4%, 16.4% good news about the birds, the reduction was about 20%, is the biggest adjustment since the end of 08 the time. the best textile and apparel retailers make the valuation of stock prices to fully adjust the high margin of safety. We believe that such a high quality brand for the retail business, only in the adjustment to get the buying opportunity;
If we still recommend that concerned about the times last week, shares, stocks may be high transfer, such as the search in the special, Chinour and Saturday, and so on; and the recent refinancing of the stocks may be implemented;
cotton for the future, we believe that Q2 will gradually clear supply and demand, cotton prices are likely to determine the direction of development. cotton viscose, spandex and polyester prices,Gloves, the role of the larger model, the cotton price direction is clear before, these prices will be range-bound chemical-based investment of little value.
report reviews the week

We maintain our overweight rating industry, the portfolio is: Wei Xing,Scarves, seven wolves, Fu Anna, Carolina, Meng Jie and BAOXINIAO.
week Industry Review
2010 year textile and garment exports 206.53 billion U.S. dollars, an increase of 23.59%. 10 years of exports over we expect a recovery in the major European and American economy, foreign to worry about product prices and advance orders, and price increases on raw material prices to promote products.
2011 年 1 14, reported 6.5896 yuan central parity of RMB, earning foreign exchange to change to a new high;
the central bank decided to January 20, 2011, the raised deposit-taking financial institutions of RMB deposit reserve ratio by 0.5 percentage points. 2010 the central bank raised the deposit reserve 6 times, this is the first time in 2011.
Pathfinder forecasted to notice. the company expects 2010 operating income of 427 million yuan, up 45% growth rate, net profit of 5200-5450 million a year, an increase of 18% -24%. reason for the growth performance of the 2010 company's main business is developing well, the market expanding, the corresponding revenue growth. at the same time as the company increased marketing year round to promote the construction of seven sales regions, sales costs and administrative expenses increased faster,Hats, resulting in net income is less than the growth rate of revenue growth.
raw material price fluctuations
through early fall, after the collective, chemical fiber raw materials of all varieties have the recent rebound. close to Chinese New Year holiday, the market trading sentiment gradually slowed, we expect the short term the price of each chemical species are kept in narrow ranges, there will not be too significant rise or fall.