Yesterday (January 25), Daphne International announced:
The Group expects to record a net loss for the year ended December 31, 2017, which will be narrowed compared with the previous year.
According to the announcement, in the fourth quarter of 2017, the same store sales of Daphne international core brands recorded a high annual unit decline, mainly driven by the decline in the average sales price. The decline slowed down in the fourth quarter, mainly due to the improvement of product design and product mix of the autumn series and the praise of customers, as well as the improvement of sales efficiency.
Overall, for the year ended December 31, 2017, the same store sales decreased by 12.4% on an annual basis.

In the fourth quarter, the group continued to adjust its channel mix to match the brand new positioning, and continued to integrate the store network. The group closed 328 sales outlets (including 317 Direct stores and 11 franchise stores).
In 2017, 1009 sales points were closed net. As of December 31, 2017, the group's core brand business had 3589 sales points.
Daphne's core brand business refers to the company's retail business of selling its own brand "Daphne" and "shoe cabinet" footwear products and accessories in mainland China.
Daphne International's performance in 2017 is still in the decline channel.
According to Daphne 2017 China Daily, in the six months ended June 30, 2017, the company's turnover was about HK $2.733 billion, down 19.6% year-on-year; shareholders' share of the loss was about HK $209 million, up 28% year-on-year.
On October 25, Daphne announced its third quarter results, with the same store sales of its core brand business recording an annual decline of about 15%. As for the reason for the decline, Daphne said that in the third quarter of the year, it did not follow the local industry to make a significant discount, mainly to coordinate with brand innovation.
At the same time, Daphne adjusted the sales channel mix to match the new brand image. Daphne closed 375 outlets in the third quarter, including 367 Direct stores and 8 franchise stores. As of September 30, 2017, its core brand business has a total of 3917 outlets.
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