Ever-Glory International Group,Inc。(EVK) 首席执行官 Yihua Kang 于 2019年 第二季度业绩 - 盈利电话会议记录

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Ever-Glory International Group, Inc. (NASDAQ:EVK) Q2 2019 Earnings Conference Call August 14, 2019 8:00 AM ET

Ever-Glory International Group,Inc。(纳斯达克股票代码:[EVK])2019年第二季度收益电话会议2019年8月14日8:00 AM ET

公司参与者

Wilson Bow - Investor Relations
Yihua Kang - Chairman, President and Chief Executive Officer
Jason Wang - Chief Financial Officer

  • Wilson Bow - 投资者关系
  • Yihua Kang - 董事长,总裁兼首席执行官
  • Jason Wang - 首席财务官

电话会议参与者

Good day and welcome to the Ever-Glory International Group Second Quarter 2019 Earnings Conference Call. Today's conference is being recorded.
At this time, I'd like to turn the conference over Mr. Wilson Bow. Please go ahead.

  • 美好的一天,欢迎来到Ever-Glory International Group 2019年第二季度收益电话会议。 今天的会议正在录制中。
  • 在这个时候,我想把会议转过Wilson Bow先生。 请继续。

威尔逊弓

Thank you, operator. Hello everyone and welcome to Ever-Glory International Group second quarter 2019 earnings conference call. The Company distributed its earning press release earlier today via Newswire services. You can also download it from Ever-Glory's website at www.everglorygroup.com.
With us today are Ever-Glory's Chairman, President and Chief Executive Officer, Mr. Yihua Kang; and the Chief Financial Officer, Mr. Jason Wang. Both of them will deliver prepared remarks followed by closing remarks.
Before we get started, I will review the Safe Harbor statement regarding today's conference call. Please note that the discussion today will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties.
As such, the Company's results may differ materially from the views expressed today. Further information regarding these and other risks and uncertainties are included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and in other documents filed with the U.S. Securities and Exchange Commission.
Ever-Glory does not assume any obligation to update any forward-looking statement, except as required under applicable law. As a reminder, this conference call is being recorded. In addition, an audio webcast of this conference will also be available on Ever-Glory's Investor Relations website.
I will turn the call over to Mr. Kang. Everyone please.

谢谢运营商。各位大家好,欢迎来到Ever-Glory International Group 2019年第二季度财报电话会议。公司今天早些时候通过Newswire服务分发了其盈利新闻稿。您也可以从Ever-Glory的网站www.everglorygroup.com下载。

今天和我们在一起的是Ever-Glory的董事长,总裁兼首席执行官Yihua Kang先生;和首席财务官Jason Wang先生。他们两人都会发表准备好的评论,然后是结束发言。

在我们开始之前,我将审查有关今天电话会议的安全港声明。请注意,今天的讨论将包含根据1995年美国私人证券诉讼改革法案的安全港条款作出的前瞻性陈述。前瞻性陈述涉及固有风险和不确定性。

因此,公司的业绩可能与今天表达的观点存在重大差异。有关这些及其他风险和不确定性的更多信息包含在公司截至2018年12月31日的财政年度的10-K表年度报告以及向美国证券交易委员会提交的其他文件中。

除适用法律要求外,Ever-Glory不承担更新任何前瞻性陈述的义务。提醒一下,此电话会议正在录制中。此外,此次会议的音频网络广播也将在Ever-Glory的投资者关系网站上公布。

我会把电话转给康先生。大家请。

益华康

Okay, thank you, Wilson. Good morning to those in the United States and good evening to those in Asia. Thank you for joining our second quarter 2019 earnings conference call.
Results for the second quarter of 2019 decreased both in retail business and wholesale business. This decrease was primarily due to the pressure of the economical downtime and China-U.S. trade forecasting. We were actively responded to the change in the challenging economic environment.
During the second quarter, we maintained our focus on developing the retail businesses through our multi-brand strategy and store network optimization initiative, while improving our wholesales businesses by upgrading customer portfolio and enhancing our accounts receivables.
Retail side, our brands continue to attract new customers and retain existing customers by focused on design, quality and volume. Our inventory management strategy continually improved the balance between inventory turnover and our division cost control measures further strengthened the profitability of our business.
All of our efforts have contributed to the solid results for the past year. In order to create more visible and accessible locations, we remodeled or relocated 37 stores in the second quarter of 2019. As of June 30, 2019, we operated a nationwide network of 1,235 stores compared with 1,417 stores as of June 30, 2018.
While we still see strong demand for our product at our retail stores, we continue to see opportunities in the e-commerce area. Mobile platforms, such as our La go go stores on Tmall and JD.com are used as strategic and effective way for us to drive customer engagement. We encourage cross-channel shopping, reduce out-of-season inventory and create a unique customers experience to grow our loyal customer base.
As a wholesale business, the Company exchanged their product development and supply chain management expertise as well as network of higher quality, reliable and cost efficiency broad channels and manufacture. In addition, our large research center provided our wholesale customers [indiscernible] research and analysis of in the area including branding image, fashion trend, new material development and use that design.
Going forward, we will continue to focus on in kind our product development capabilities and optimizing the customer page with our long-term attention of being [indiscernible] from middle to high end ever brand both in Mainland China and worldwide.
Now, I will turn the call over to our CFO, Jason Wang, to provide details of our financial results. Jason?

好的,谢谢你,威尔逊。早上好,在美国,晚上和亚洲人一起度过美好的夜晚。感谢您参加2019年第二季度财报电话会议。

零售业务和批发业务的2019年第二季度业绩均下降。这种下降主要是由于经济停工和中美之间的压力。贸易预测。我们积极应对充满挑战的经济环境的变化。

在第二季度,我们通过多品牌战略和商店网络优化计划继续关注零售业务的发展,同时通过升级客户组合和增强应收账款来改善我们的批发业务。

零售方面,我们的品牌通过专注于设计,质量和数量,继续吸引新客户并留住现有客户。我们的库存管理策略不断改善库存周转与我们的分部成本控制措施之间的平衡,进一步增强了我们业务的盈利能力。

我们所有的努力都为过去一年的稳固成果做出了贡献。为了创造更加明显和便利的地点,我们在2019年第二季度对37家商店进行了改造或搬迁。截至2019年6月30日,我们在全国范围内开设了1,235家商店,而截至2018年6月30日,这一数量为1,417家。

虽然我们仍然看到我们的零售店对我们产品的强烈需求,但我们仍然看到电子商务领域的机会。移动平台,例如我们在天猫和京东的La go go商店,被用作推动客户参与的战略性和有效方式。我们鼓励跨渠道购物,减少季节性库存并创造独特的客户体验,以增加我们忠诚的客户群。

作为批发业务,公司交换了产品开发和供应链管理专业知识以及更高质量,可靠和成本效率的广泛渠道和制造网络。此外,我们的大型研究中心为我们的批发客户[音频不清晰]提供了在该领域的研究和分析,包括品牌形象,时尚潮流,新材料开发和使用该设计。

展望未来,我们将继续专注于实物产品开发能力和优化客户页面,我们长期关注中国大陆和全球的中高端品牌[音频不清晰]。

现在,我将把这个电话转交给我们的首席财务官Jason Wang,以提供我们财务业绩的详细信息。贾森?

Jason Wang

Thank you, Mr. Kang, and hello to everyone on the call. I will now move through our financial results for second quarter 2019. Please note that, all numbers discussed today are in U.S. dollars unless otherwise noted.
Total sales for the second quarter of 2019 were $77.3 million, a decrease of 12.7% from $88.5 million in the second quarter of 2018. This decrease was mainly due to 19.4% decrease in our retail business and a 4% decrease in wholesale business.
Sales for the Company's branded fashion apparel retail division decreased by 19.4% to $40.1 million for the second quarter of 2019, compared with $49.7 million for the second quarter of 2018. This decrease was mainly due to a decrease in the numbers of stores and same-store sales. The Company had 1,235 retail stores as of June 30, 2019, compared with 1,417 retail stores as of June 30, 2018.
Sales for the Company's wholesale division decreased by 4.0% to $37.3 million for the second quarter of 2019, compared with $38.8 million for the second quarter of 2018. This decrease was mainly due to decreased sales in Mainland China, Hong Kong China, Japan, Germany, United Kingdom and other European markets partially offset for increased sales in the United States.
Total gross profit for the second quarter of 2019 decreased by 16.1% to $29 million, compared with $34.5 million for the second quarter of 2018. Total gross margin decreased to 37.5% from 39.0% for the second quarter of 2018.
Gross profit for the retail business decreased by 16.1% to $23 million for the second quarter of 2019, compared with $27.4 million for the second quarter of 2018. Gross margin was 57.3%, compared to 55.1% for the second quarter of 2018.
Gross profit for the wholesale business decreased by 16.0% to $6.0 million for the second quarter of 2019, compared with $7.2 million for the second quarter of 2018. Gross margin decreased to 16.1% from 18.4% for the second quarter of 2018.
Selling expenses for the second quarter of 2019 decreased by 12.8% to $19.7 million, or 25.5% of total sales, compared with $22.6 million, or 25.5% of total sales for the second quarter of 2018. The decrease was mainly due to the marketing expenses associated with the promotion of the retail brand.
General and administrative expenses for the second quarter of 2019 decreased by 16.8% to $7.3 million, or 9.5% of total sales, compared with $8.8 million, or 10.0% of total sales for the second quarter of 2018. The decrease was mainly due to the decline in number of stores.
Income from operations for the second quarter of 2019 decreased by 37.7% to $2 million compared with $3.1 million for the second quarter of 2018.
Net income attributable to the Company for the second quarter of 2019 was $1.9 million compared with $2.8 million for the second quarter of 2018. Basic and diluted earnings per share were $0.13 for the second quarter of 2019 compared with $0.19 for the second quarter of 2018.
As of June 30, 2019, Ever-Glory had approximately $34.5 million of cash and cash equivalents, compared with approximately $47 million as of December 31, 2018. Ever-Glory had working capital of approximately $42.6 million as of June 30, 2019, and outstanding bank loans of approximately $26.0 million as of June 30, 2019.

谢谢你,康先生,并致电所有人。我现在将介绍2019年第二季度的财务业绩。请注意,除非另有说明,否则今天讨论的所有数字均以美元结算。

2019年第二季度的总销售额为7730万美元,比2018年第二季度的8850万美元下降了12.7%。这一下降主要是由于我们的零售业务减少了19.4%,批发业务减少了4%。

2019年第二季度,公司品牌时装零售部门的销售额下降19.4%至4010万美元,而2018年第二季度为4970万美元。这一下降主要是由于商店数量减少和相同 - 商店销售。截至2019年6月30日,公司拥有1,235家零售店,而截至2018年6月30日,该公司拥有1,417家零售店。

2019年第二季度,公司批发部门的销售额下降4.0%至3730万美元,而2018年第二季度为3880万美元。这一下降主要是由于中国大陆,中国香港,日本,德国的销售额下降所致。 ,英国和其他欧洲市场部分抵消了美国销量的增长。

2019年第二季度的总毛利下降16.1%至2900万美元,而2018年第二季度为3450万美元。总毛利率从2018年第二季度的39.0%下降至37.5%。

零售业务的毛利润在2019年第二季度下降16.1%至2300万美元,而2018年第二季度为2740万美元。毛利率为57.3%,而2018年第二季度为55.1%。

批发业务的毛利润在2019年第二季度下降16.0%至600万美元,而2018年第二季度为720万美元。毛利率从2018年第二季度的18.4%下降至16.1%。

2019年第二季度的销售费用下降12.8%至1,970万美元,占总销售额的25.5%,而2018年第二季度的销售额为2260万美元,占总销售额的25.5%。减少的主要原因是营销费用与促销零售品牌有关。

2019年第二季度的一般和管理费用下降16.8%至730万美元,占总销售额的9.5%,而2018年第二季度的销售额为880万美元,占总销售额的10.0%。这一下降主要是由于商店数量下降。

2019年第二季度运营收入减少37.7%至200万美元,而2018年第二季度为310万美元。

2019年第二季度归属于公司的净利润为190万美元,而2018年第二季度为280万美元。2019年第二季度的每股基本和摊薄收益为0.13美元,而2018年第二季度为0.19美元。

截至2019年6月30日,Ever-Glory的现金和现金等价物约为3450万美元,而截至2018年12月31日约为4700万美元。截至2019年6月30日,Ever-Glory的营运资金约为4260万美元,截至2019年6月30日,未偿还的银行贷款约为2,600万美元。

Our businesses, they both have been plenty up with 2019 second quarter results and we look forward to further strengthening the fundamentals and increasing operating leverage to support the long-term profitability of our business.
This concludes my prepared remarks. Thank you for participating in Ever-Glory's second quarter of 2019 earnings call. We look forward to talking with you next quarter. If you have additional questions, please feel free to contact our IR Department. Thank you.

我们的业务,他们都在2019年第二季度业绩充足,我们期待进一步加强基本面和增加经营杠杆,以支持我们业务的长期盈利能力。

以上是我准备的评论。 感谢您参与Ever-Glory 2019年第二季度的财报电话会议。 我们期待下个季度与您交谈。 如果您还有其他问题,请随时联系我们的IR部门。 谢谢。

问答环节

Ladies and gentlemen, this concludes today's conference call. Thank you for your participation. You may now disconnect.

女士们,先生们,今天的电话会议结束了。 感谢您的参与。 您现在可以断开连接。

相关问题

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