Lining'S Retail Price Of Shoes And Clothing Rose &Nbsp In The Winter, And The Order Increased By Only 2.

Lining (02331) in the fourth quarter of this year, the order volume increased by 20.3% year-on-year, unchanged from the third quarter, which was in line with management expectations, but lower than that of the investment bank.

The price is harder to digest than the aggressive market.

At the order meeting, the average retail price of Lining shoes and clothing rose by 7.8% and 17.9% respectively.

Zhang Zhiyong, chief executive, points out that the rise in product prices is consistent with Lining's long-term strategy, because the group pays more attention to the long-term value of the brand.

Lining, a US Securities analyst, pointed out that the strategic direction of the gradual increase of the selling price was correct, but what the management should pay attention to is that when the price rises are more aggressive, the market will be hard to digest.

Lining's orders this winter will be worse than market expectations. Deutsche Bank and Morgan Stanley predict that their orders will increase by 21% to 23%, and 22%.

J.P. Morgan expects Lining to increase its annual orders by 28%, given that its growth in the first three quarters was 12%, 15% and 20%, respectively, which is expected to increase by 21% in the fourth quarter.

At the same time, as winter in 2009 is long and cold, the sporting goods dealers' winter inventories are better digested, so this year's sports stocks' growth rate in winter is relatively strong, and Lining's order will be worse than that of the same industry.

Anta sports (02020), XTEP International (01368) and China trend (03818) increased in the fourth quarter of the year, which were more than 25%, 25% and 23% respectively, while PEAK sports (01968) increased by 30.8% in the winter.

CEO: the industry has accumulated inventory risk.

Despite the gradual improvement of market order data, it is, after all, a futures mechanism. It depends on the expectations of dealers and Brand Company for the next 6 months. The Chinese sports industry still does not match the actual sales.

An analyst with the European securities firm said Zhang Zhiyong's remarks were interesting, as if there was a saying in other words, that the risk of accumulating inventory was high in other industries.