Inside Retail Asia breaking news, supplier information, product launches and consumer campaigns within the Macau retail sector.
Macau Latest News - Inside Retail Asia
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.”
Hong Kong jeweller Luk Fook says its sales halved during the first two months of this year as the coronavirus outbreak caused extensive lockdown of mainland Chinese cities.
Hong Kong-based jewellery group Chow Tai Fook has closed 40 stores in Hong Kong after experiencing a 60-per-cent drop in retail sales there amidst the coronavirus outbreak.
Embattled fashion label Esprit has posted another loss in the December half year, as sales plunged by HK$1 billion.
Macau souvenir bakery Koi Kei Bakery will be closing its Hong Kong branches in Tsim Tsa Tsui, Causeway Bay and Mong Kok this Saturday.
Apparel retailer Bossini has revealed a loss of HK$93.7 million during the six months to December – more than triple the $25.7 million loss of the same period a year earlier.
Sandro has reopened its Galaxy Macau boutique, a renovated and expanded store in a setting that attempts an “understated yet sophisticated atmosphere”.
Macau’s government has closed the territory’s casinos for at least two weeks over fears coronavirus might be spread through venues.
Asian travel-retail sales in Hong Kong and globally are expected to be heavily impacted by the growing coronavirus crisis.