Inside Retail Asia breaking news, supplier information, product launches and consumer campaigns within the Macau retail sector.
Macau Latest News - Inside Retail Asia
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.”
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.