Giordano'S Quarterly Sales Fell 5%, And Retail Stocks Were Hard To Revive.

According to Hong Kong media reports, the deteriorating consumption climate in the previous quarter worsened the retail business.

Sales grew slightly in the first half of the year.

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(0709) in the third quarter, it became negative and fell 5% to 1 billion 270 million yuan per year, the first decline since the 2008 financial tsunami. The same store sales in the quarter fell 2%, compared with the 11% increase in the same period last year.

Although the turnover period of memory and cargo has been improved, the sales volume of China, Hong Kong and Taiwan has declined, reflecting that the recovery is still unforeseen.

Same store sales backwards 2%

In the first half of this year, sales of Giordano mainland branches fell by 4% year-on-year, but overall sales continued to maintain 2% year-on-year growth as Hongkong and Taiwan, the Asia Pacific region and overseas wholesale business continued to grow.

But after entering the third quarter, the mainland business further deteriorated, the whole quarter sales fell by 7%, while Hongkong and Taiwan business also failed to maintain growth, down 7%.

With a slight increase of 5%, the overall sales volume is 5% backwards.

The number of turnaround days has dropped.

In fact, the company's

The turnover period has improved, benefiting from the drop in purchase cost and strict control over inventory purchase and procurement, and the turnover period has been reduced by 9 days to 73 days.

In the financial report, the company said that the mainland business retrogression was caused by fierce competition and weak consumer demand. The exceptionally warm weather in September also dealt with the sale of new products in autumn.

In Hongkong and Taiwan Division, sales of the same store last year dropped by 5%, due to the closing of a main store in Hongkong last year, pushing up the sales base, but the same store sales in the Hongkong area still recorded a 8% increase.

Taiwan was mainly affected by bad weather and weak demand, which led to a 10% drop in sales.