Ailing listed Hong Kong retail Bauhaus International has reported a dramatic plunge in sales for the nine months to December 31 in both its home market, and overseas markets from which it has already announced it will withdraw.
The company, which operates Superdry stores in Hong Kong as well as its own banners Tough, Jeansmith, Salad and 80/20, said sales in Hong Kong and Macau fell by 36 per cent in the third quarter and by 43 per cent for the financial year to date.
Its overseas business – primarily Taiwan and Mainland China, saw a 68-per-cent drop in sale for the quarter and a 40-per-cent decline for the nine months. It has already culled its store count to just five self-operated outlets.
Bauhaus ended the year with 55 stores in Hong Kong and Macau.