Walker Group Holdings, an investment holding company principally engaged in developing and retailing footwear, says it expects to record a “significantly larger” loss for the six months to September 30.
The company mainly sells products under its own brands, A+A2, Acupuncture, Artemis, Couberg, Forleria, Tru-Nari and Walaci, through self-managed retail shops, concession points in department stores and franchised stores in China, Hong Kong and Taiwan.
It also sells online under the Mortto and My Walker brands.
The company believes its expected losses are mainly attributable to an overall decline in sales in China and Hong Kong because of a restructuring of its store network and sluggish consumption. However, the board considers the financial position of the group remains healthy.
Details of the group’s performance for the six months will be disclosed in its interim results announcement to be published by the end of this month.