Sa Sa International Archives - Inside Retail Asia
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.
Hong Kong-headquartered cosmetics retailer Sa Sa International has relaunched its presence in Singapore with an exclusive online partnership with e-commerce platform Shopee.
All 22 SaSa Singapore stores are to be closed down as the Hong Kong-headquartered parent calls an end to six years of ongoing losses in the city.
Sa Sa International sales slipped 2.2 per cent in the latest quarter, with same-store sales in Hong Kong and Macau down 3.7 per cent.
Sa Sa International chairman and CEO Dr Simon Kwok has been named Hong Kong Business Person of the Year.
SaSa sales have soared by 24.8 per cent in the first quarter as mainland tourists returned to Hong Kong to shop.
Sasa profits soared 34.7 per cent in the last financial year, as sales at Hong Kong and Macau stores posted solid gains.
More tourists from China and stronger domestic demand helped lift Lunar New Year sales for Sa Sa International Holdings.
With turnover, sales and profits all up, Sa Sa International Holdings is looking good as it enters it second half.
Sa Sa profits took at 37.3 per cent hit during the six months to September 30.
A 2.3 per cent decrease in turnover is expected to result in Sa Sa profits dropping as much as 45 per cent in its first half.
Turnover for cosmetics retailer Sa Sa International Holdings fell by 5.7 per cent for the first quarter.