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Hummer said that the plan for reducing expenditures and rectification from the second half of 2012 will continue into 2013, including the closure of more than 90 unprofitable stores and the reduction of about 450 jobs. In the fourth quarter of last year, Hummer’s losses amounted to US$56.8 million. Coincidentally. Since the second half of last year, the mainstream sports brands such as Li Ning, Anta, Peak and others have reportedly closed stores. Among them, Peak and Li Ning had thousands of stores closed last year, and Anta had 110 stores. Just last week, Xtep said it plans to close another 100 stores this year. It is understood that Xtep has closed 80-100 stores last year.
Analysis of the industry, the collective close shop moves and the previous radical expansion. Before the 2008 Olympic Games in Beijing, both domestic and foreign sports brands had high hopes for the market, especially in the Chinese market. Competition and opening of shops became the main theme at that time, but the market reaction was less than expected. In recent years, many storefront profitability cannot be improved, and the various expenses for operating terminal stores have increased. Zhang Qing, the founder of Key Road Sports Consulting Co., Ltd. pointed out that the collective closure of sports brands reflects the bottleneck of the entire industry. On the one hand, the era of high gross profit and high growth rate is gone forever; on the other hand, the mode of increasing sales growth through a large number of new stores has been difficult to sustain. Peak Group CEO Zhihua Xu also told reporters that after the closure of the store focused on investment and management of high-quality stores, can improve the profitability of a single store.
In addition, the closure of stores and the rapid development of e-commerce are not unrelated. In order to adapt to the market, all sports brands have put some sales channels online, and the proportion of online sales will gradually increase in the future.
Simaoguan 90 foreign-owned sports brands in Huamen shop are involved in the tide of closed stores
The German brand Puma has announced that it will close more than 90 unprofitable stores. According to the analysis, due to the background of deceleration in market growth and the pressure to increase overall profitability, the tide of future store closures will continue to spread throughout the sporting goods industry. In addition, e-commerce has also become a major incentive for channel reform.
The tide of customs clearance involves not only domestic sports brands but also foreign-funded enterprises. The German brand Puma has announced that it will close more than 90 unprofitable stores. According to the analysis, due to the background of deceleration in market growth and the pressure to increase overall profitability, the tide of future store closures will continue to spread throughout the sporting goods industry. In addition, e-commerce has also become a major incentive for channel reform.