of the jewelry industry, expanding domestic demand, stimulate the transformation of economic growth hot spots, but the first quarter of this year, the country is far from satisfactory, the country's 50 major department stores sales increased by only 8.15%, which appliances, jewelry industry is the most bleak. However, industry analysts believe that the the the retail fundamentals worst period has passed, the plate investment opportunities looming.
WASHINGTON (text / table Reporter Zhang Zhong) has just been published by the National Bureau of Statistics data show that in the first quarter of the people in the country grew by consumer price index rose 3.8%, caused by market concerns about inflation again. However, the major retail sales of the first three months of this year is not optimistic about the country's 50 key large-scale retail enterprises sales rose less than one percent.
reporter learned from the China National Commercial Information Center, National 50 key large-scale retail enterprises of the first quarter of 2012, retail sales grew by 8.15 percent and 14.48 percent year-on-year slowdown. Among them, the largest increase for cosmetics, followed by food, 14.23% and 13.49%, respectively. In five major sub-sectors, home appliances and the performance of the most miserable, sales almost flat with the first quarter of last year, or 1.39%.
However, the reporter found that the better view from a single month, the entire retail market in March, of the 50 large department stores, retail sales grew by 11.56%, compared to 1 to 2 months the cumulative growth rate an increase of 4.60 percentage points.
is worth noting that, with the country the price of gold since the highs of last year, gold and silver jewelry and other investment goods retail sales growth dropped significantly. The data show that 50 key large-scale retail enterprises gold and silver jewelry retail sales growth rate of only 1.90% in March, a year-on-year decline of 57.7 percent. Market analysts believe that the residents' demand for increasing the value of commodities in the same period last year inflation environment, the international all the way up, but gradually fell as the gold and silver prices, investment psychology gradually decline.
commercial retail sector worst period has elapsed investment opportunities looming
fearing slowdown in economic growth, even if the country is actively position to expand domestic demand and stimulate consumption, but the commercial retail sector has been performing not Jia. However, analysts said, from the current data, the retail sector has improved, the industry as a whole is the worst period is over, some of the investment opportunities looming.
principal analyst Ou Yafei said that 50 key large-scale retail enterprises retail sales grew by 11.56% in March 2012 can be regarded as scheduled rebound. According to the GF Securities is absolute valuation estimates on overseas retail market valuations and the domestic industry, the 20 times price-earnings ratio should be a reasonable valuation of the central department store industry. It is worth noting that the first quarter, industry fundamentals data have bottomed out, although the second quarter may not rebound sharply, but the worst times are over. The flexible and valuation elastic decided they will have higher excess returns.
that the first quarter of 2012, retail continuation of the slowdown trend since the fourth quarter of last year, has been expected in the market, the current industry absolute PE of 16 times in 2012, relative PE of 1.55 times, are lower than the historical average, the increase in the first quarter of this year, a number of results in more than 100%. April across the country will carry out consumer promotion of the Month activities, large retailers carry out various promotional activities to enhance sales of short-term positive effect.
However, Shenyin also reminds terminal decline in demand trends in the short term is difficult to reverse, sluggish consumer market sentiment temporarily difficult to eliminate, investors also need to be treated with caution.
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