Inside Retail Asia breaking news, supplier information, product launches and consumer campaigns within the Macau retail sector.
Macau Latest News - Inside Retail Asia
Macau retail sales plunged 45.1 per cent in the first quarter of this year to around US$1.41 billion, according to the territory’s Statistics and Census Service.
Hong Kong shoe retailer Le Saunda has reported yet another annual loss – of US$4.28 million – as a “super-cold winter” hit Hong Kong’s retail sector.
Crippled apparel group Esprit is to close all its stores in Asia, except those in Mainland China, by the end of June.
Just one in five consumers is likely to head straight for the shops as soon as their respective coronavirus lockdowns end, according to data released by finance services firm Jefferies.
Ikea Macau opened its doors yesterday, the first of the Swedish furniture homeware retailer’s stores in Asia which does not feature the brand’s traditional one-way ‘winding path’ format.
Fashion group Giordano says its March quarter sales fell by 34.6 per cent as the outbreak of the coronavirus pandemic saw stores shuttered in key markets.
Hong Kong-listed jeweller Luk Fook says its March-quarter same-store sales plunged 57 per cent as the Covid-19 outbreak saw the mainland border close and tourist numbers fall to almost zero.
Fourth-quarter sales of beauty-products retailer Sa Sa International plummeted 62 per cent in Hong Kong and Macau as the coronavirus pandemic brought to a halt inbound tourism from Mainland China.
A recovery in fast-fashion retailer H&M’s sales and profit has been muted by the impact of the coronavirus pandemic on stores across Asia.
Jeweller Tse Sui Luen is projecting a loss of US$10.3 million for the year to March – a stark reversal from last year’s net profit of $6.96 million.
Hong Kong cosmetics retailer Bonjour Holdings has delisted slow-moving products and trimmed its store network as it grapples with falling sales and mounting losses.
“From a long-term perspective, the Covid-19 outbreak will not last for an indefinite period of time and consumers’ needs for health and fitness products will definitely be heightened, which will contribute to the group’s swift recovery after the crisis.”