Hongkong Retail Downturn, Harbour City Sales Slowdown

< p > with the slow down of the overall retail sales of < a href= "http:// www.91se91.com/news/index_c.asp" > Hongkong < /a >, the days of large shopping malls are also sad.

The results released by Hongkong Harbour City today show a slowdown in total sales.

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Harbour City and Times Square, which is well known to mainland consumers, is the landmark property of Hongkong's old real estate developers, which accounts for 9% of the total retail sales in Hongkong. < p >

Today, Kowloon warehouse announced its interim results as at the end of June, net profit of HK $11 billion 701 million, an annual drop of 32.1%.

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< p > its executive director Wu Tianhai said that in the first half of the year, < a href= "http:// www.91se91.com/news/index_c.asp" > performance < /a > was indeed affected by the overall decline of Hongkong's retail sales. The growth of sales in Hongkong's main shopping centers was generally better than that in Hongkong, but it still declined compared with a year ago.

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< p > < < a href= "http:// > www.91se91.com/news/index_c.asp > Harbour City < /a > sales volume reached HK $16 billion 800 million in the first half of this year, up by only 5% over the same period last year.

At the same time, Hongkong's overall retail sales have entered a cold winter this year, and retail sales in June dropped by 6.9% compared to the same period last year, which has dropped for 5 months.

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< p > due to the change in the consumption pattern of inbound tourists in the mainland, the sale of jewellery watches and precious gift categories in June was only seven billion and seven hundred million yuan, the lowest in twelve months, with a year-on-year drop of 28.2%.

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< p > on the other hand, the decline in the first half performance of Kowloon warehouse is also related to the sale of property in the mainland.

In the first half of this year, Kowloon warehouse only completed 39% of its sales target in the mainland.

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< p > Wu Tianhai said that in the first half of the year, sales were not up to the standard. Compared with the same period last year, the target of 23 billion yuan was sold for 9 billion in the first half of the year.

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"P", as a whole, there are still some problems in the residential property in the mainland, so we haven't bought any new themes in the past six months, and our stock has been sold a little.

Get the money back and look for new investment targets.

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