Trade and Industry department store performance outstanding supermarket growth weakness

(National securities Zhao Dahui) this year April, the department store performance is good, in the discount promotions, wedding activities and other factors stimulated by the month, clothing, gold and silver jewelry, cosmetics and apparel sales growth accelerated, so that the Department of Trade in the April performance of the best retail sector. Subject to the April consumer price index continued to decline, the growth of various types of food commodities, low growth in supermarkets, and the domestic appliance industry flexibility, festival effect is obvious. "51" 3 days holiday, all kinds of household appliances goods sales are flourishing, and during the non-holiday period, sales are not good. Because the household appliance industry is most affected by the macro-economy, the industry has to wait for the economic inflection point to warm up. Maintain the industry neutral rating, continue to pay due attention to performance stability, management ability outstanding, have assets reorganization subject of listed companies. (National securities Zhao Dahui)