Crippling quarter for Le Saunda

Shoe manufacturer/retailer Le Saunda Holdings has ended its fourth quarter on the back foot with sliding sales and a smaller network of shops.

Its unaudited retail data for the three months to the end of February shows declining sales for its self-owned retail business. Total sales were down 18.1 per cent with a same-store sales decline of 10.2 per cent year on year.

Even the group’s e-commerce sales were down, by 5.2 per cent.

At February 28, the group’s total retail network covered 687 outlets in Mainland China, Hong Kong and Macau, a net decrease of 109 outlets from 12 months earlier. The total number of outlets comprised 616 self-owned outlets in China, Hong Kong and Macau, and 71 franchised outlets in China.

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