Hong Kong-listed beauty products retailer Sa Sa International says its retail and wholesale turnover fell 15.1 per cent in the last quarter.
And in the Hong Kong and Macau markets, turnover tumbled 17.9 per cent for the quarter ended March 31, while same-store sales dropped 17.6 per cent.
There were 5.2 per cent fewer transactions, with average sales per transaction sliding by 13.9 per cent.
However, in other markets – including Mainland China, Malaysia, Singapore and Taiwan, and on its online store – trade was a shade more buoyant, easing just 2.8 per cent.
Fourth-quarter retail sales in Hong Kong and Macau market continued their slide because of further impact by Mainland China’s new “one-trip-a-week” policy on the retail market. There was also weaker sentiment with a rise in outbound travel by locals.
Responding to the slower market, Sa Sa will optimise product offerings and adjust sales strategies, says the group, which closed one store during the quarter. This was either in Hong Kong or Macau, but not specified in its report.
Its total of 291 outlets comprises 113 in Hong Kong/Macau, 66 in Malaysia, 57 in China, 32 in Taiwan and 23 in Singapore.