protests Archives - Inside Retail Asia
Triple-whammy sees jeweller Tse Sui Luen post US$11.6m loss
Tse Sui Luen Jewellery has reported a US$11.6 million loss for the year to March, as the Sino-US trade war, protests and Covid-19 dented sales.
Dickson Concepts’ retail arm loses $US27m as tourist trade evaporates
Hong Kong retailer Dickson Concepts describes the territory’s retail environment as “the most challenging the group has ever faced”.
Hong Kong retail at ‘life-or-death’ moment says HKRMA
Hong Kong’s retail industry is facing “a crucial, life-and-death moment of survival” according to the city’s main retail body the HKRMA.
Hong Kong protestors find new retail target: I.T Group
Hong Kong’s Causeway Bay was yesterday the centre of the largest and most disruptive protest activity since the outbreak of Covid-19 forcing stores to close and shoppers seeking shelter from tear gas.
Tse Sui Luen set for hefty loss as protests, pandemic impact sales
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.
Bonjour trims range, relocates stores as losses mount
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.
AS Watson sales grew 7 per cent last year, despite protests
Health-and-beauty retailer AS Watson recorded 7 per cent growth last year despite the political unrest in its key Hong Kong market.
Bossini loss balloons as protests hit Hong Kong sales
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.
How Hong Kong retailers can survive turbulent times
By monitoring and controlling cash positions, negotiating relief in key contacts, and finding additional operational cash improvements, Hong Kong retailers can weather the current sales crash, and look forward to a stronger performance when the market eventually recovers.
Bonjour Holdings warns of substantial loss
Beauty retailer Bonjour Holdings has warned shareholders of a “substantially increased loss” for the current year as the social unrest and falling Mainland Chinese visitor numbers take their toll.
Festival Walk mall to remain closed for up to three months
Festival Walk mall in Hong Kong – seriously damaged during protest activities on November 13 – will remain closed for up to another three months.
Asia will account for 45 per cent of global retail sales next year
The retail market is expected to slow down next year, but Asia will account for 45 per cent of global retail sales, according to a new report from economic and business research group The Economist Intelligence Unit.