The Latest Profit Warning Of Trend Brand I.T. Has A Loss Of No Less Than HK $100 Million In The First Quarter

Established in 1988, I.T., a fashion brand, has developed from a small shop, green peace, to one of the largest fashion groups in Hong Kong. At the beginning, some famous brand clothes were sold. Because they were favored by fashionable people, they set up the image of leading fashion trend among young people. Today, I.T. has become the "holy land" of fashion pursuers and many stars.

Although the fashion brand I.T. has been rooted in people's hearts, it is inevitable to be hit by the epidemic. 1. T group issued a profit warning a few days ago. In the three months ending May 31, 2020, the net loss in the first financial quarter was no less than HK $100 million, compared with the net profit of HK $34 million in the same period of last year.

The epidemic situation is one of the reasons for the group's loss. In addition, the group continued to lose money due to the continuous concussion of the general environment and the downturn of consumers' shopping desire.

During the first quarter, T. I. stores need to be temporarily closed down in order to reduce the group's sales time in the first quarter.

In recent years, the sales volume of I.T. brand has been unsatisfactory. In addition to the impact of the epidemic situation and the turbulence of the market environment, it is even more unbearable. According to the financial report, the group's net profit decreased by HK $1.47 billion to HK $1.47 billion.

In the face of this bad performance, I.T group once said that the business environment in which the group is in is extremely challenging, and the business in many operating locations has been severely damaged. After the outbreak of new crown pneumonia this year, the company's physical store business has also been severely damaged.

Wave after wave of attacks, any brand is also difficult to withstand the test. At present, Hong Kong dollar and Chinese mainland sales fell by 11.49% in the same quarter, according to the Hong Kong dollar and Mainland China market.

It is reported that the overall gross profit margin of I.T. group in the report was 55.1%, a year-on-year decrease of 8.8 percentage points. Among them, the gross profit margin of Hong Kong, China and Macao was 49.9%, down 9.5%; the gross profit margin of mainland China was 55.3%, down 8.7%; the gross profit margin of Japan and the United States was 64.5%, down 7.8%.

According to the data, most of the fashion brands operated by I.T. are master brands from all over the world, such as D & G, miu miu, Jean Paul Gaultier, Dirk bikkembergs, Cacharel, Hussein Chalayan, Anna Sui, etc.; there are more than 10 self created brands, including B + AB, 5cm, izzue, etc.