As a leading brand in the domestic outdoor products industry, Beijing Pathfinder Outdoor Products Co., Ltd. achieved excellent business performance with double-digit growth of sales revenue and net profit year-on-year. In 2011, it achieved operating income of 750 million yuan, an increase of 73.64% over the same period of previous year; its net profit was 110 million yuan, up 98.81% over the same period of last year.
As of December 31, 2011, the total number of Pathfinder chain stores reached 1041. Press the shop property division, Guide 144, joining stores 897, respectively, compared with the end of 2010 increased by 46 and 329; divided by channel type, the store counter 845, stores 196, respectively, an increase of 277 compared with the end of 2010 Home and 98. In 2011, the Company newly completed the construction of 462 stores and the coverage rate of informationized stores was 91.74% of the total number of stores.
In 2012, Pathfinder strives to achieve a revenue of not less than RMB1.15bn, an increase of about 52.5% from 2011 operating revenue and plans to open no fewer than 400 new stores. The Company will focus on precise brand positioning through market segmentation, focus on brand reputation and loyalty, and further expand its market share in the brand. It will also strengthen its channel management and product mix management to enhance its research and development technology strength and supply chain management capabilities and strengthen internal control and risk management Control, continue to enhance the overall competitiveness. Pathfinder to step up brand promotion efforts to consolidate the leading position, to achieve the following four points:
1, Beyond industry growth and leading position more stable The Company achieved sales revenue of 754 million yuan and net profit of 107 million yuan in 2011, up 74% and 99% respectively. The domestic outdoor market maintained a rapid expansion and the retail sales increased by 51% %, Breaking the level of 10 billion yuan. We think the Company's performance has surpassed that of the industry mainly due to the expanded influence after landing in the capital market, the continuous increase of market share, product quality, design level and the improvement of consumers' brand awareness.
2, the channel layout will focus on the secondary and tertiary markets to expand the company in 2011 the number of stores reached 1041, Direct 144, joined 897, shopping malls accounted for 81% of counters, the number of new stores this year will not be less than 400. The penetration rate of the Company in core cities and first-tier cities rose to 52.7% and 9.7% respectively from 23.8% and 5%, the coverage in the second-tier cities rose from 39% to 51% and the penetration rate reached 2% but not yet reached the second level The market coverage of 85% of the target, we believe that the level of the market is the company this stage to expand vigorously. Economic hundred counties have also been included in the development of the object, the company will rely on its own core franchisee advantages and increase support to do such a market development.
3. Enhancing product management and displaying obvious synergy after the terminal display After the product team and the retail team strengthened their cooperation, the efficiency of the terminal product was enhanced and the profitability of the single store was greatly enhanced. In 2012, the price level will be reduced by 15%. In our opinion, the price strategy adjustment will enhance the cost performance advantage and be closer to the consumer demand in the secondary and tertiary markets. The Company will strengthen the category planning for different market segments and different types of channels and require the growth of key categories and structures to exceed the average level so as to establish a connection between Pathfinder and a certain category of products in the minds of consumers and further upgrade the stores.
4, brand promotion, multi-brand operation strategy start The company will explore the pathfinder brand as the core, start high-end outdoor leisure and e-commerce outdoor two brands, this measure can meet different consumer groups, and consumers at multiple levels Keep in touch. This year, the company will step up its branding efforts and marketing expenses may increase rapidly, but it is acceptable to pull away from the industry as early as possible. Investment rating: TNF and Columbia sales of about 1 billion, while 4 to 10 are in the level of 4-5 million, the competitive gap is not obvious, the next 3-5 years, the industry will continue to maintain high growth, starting companies Is expected to achieve greater advantages. Traditional sporting goods industry has reached growth ceilings, professionals and distribution channels to the outdoor industry to switch will be the trend. Foreign brands are also expanding their efforts to open up some signs of competition intensified. We emphasize brand selling outdoor selling point and technology, with the Pathfinder's own accumulation and introduction of talent, the gap is narrowing, the application of new materials makes people happy, and the company take the initiative to introduce professional managers and incentive arrangements, But also laid the foundation for long-term development.
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