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.