China-focused apparel company TOPBI International Holdings Ltd (淘帝國際控股) expects sales growth this quarter to be driven by promotional efforts coinciding with International Children’s Day, which is observed on June 1.
In an effort to raise brand awareness among parents in China who were born in the 1980s or 1990s, the company has stepped up marketing efforts to further tap into China’s market for children’s apparel, TOPBI said in a statement.
Since March, the company has also expanded into a number of Chinese regional markets, including Xian in Shaanxi Province, Nanchang in Jiangxi Province and elsewhere in Fujian Province, the company said, adding that it has 1,413 retail locations across that country.
The company, which listed on the Taiwan Stock Exchange in December 2013, said that it is prioritizing marketing efforts in larger retail outlets in areas with heavy foot traffic, where elaborate advertisement displays are likely to yield more sales opportunities.
The company said that its distributors in China are holding an upbeat outlook on Beijing’s decision to abolish its one-child policy, as the change would drive up demand for children’s apparel.
TOPBI’s business outlook came as the company reported its net income in the first quarter rose 26.85 percent annually to NT$217.76 million (US$6.73 million), with earnings per share of NT$3.75. Consolidated sales reached NT$1.09 billion in the first quarter, 5.97 percent higher than a year earlier.
Meanwhile, the company’s board of directors has approved the distribution of a NT$5.5 cash dividend per share, as well as 20 percent in stock dividends, equating to a dividend payout of 52 percent of last year’s profits, it said.
TOPBI shares yesterday gained 1.23 percent to NT$123, outperforming the TAIEX’s 1.31 percent dip.
However, since the beginning of the year, shares have declined by 8.21 percent, worse than the benchmark index’s 1.83 percent retreat, Taiwan Stock Exchange data showed.
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