BELLE Hongkong Market Worsening, Will Invest More Electricity Business In The Future
BELLE
International Holdings Limited (1880.HK) today held a meeting of shareholders, through a final dividend of 19 cents per share, 24.08 Hong Kong cents resolution, and re election of the three members of a series of directors.
After the shareholders' meeting, the focus of the conference was on the deteriorating Hongkong market. BELLE's chief executive, Sheng Bai Jiao, said the group was also affected by the group's mainland China market as of the end of May.
footwear
The same store sales fell by 7.8%, while closing many stores, performance in 6 and July was also bad.
Sheng Bai Jiao said that the current situation was mainly affected.
retail
Difficult environment, and online competition.
However, he said that the mainland market was variable because of the rental cost.
Sale
As a result, the profitability of the mainland market is less impaired. On the contrary, the rental market in Hongkong is fixed and stable, which will affect profitability.
At present, BELLE is in.
Hong Kong
About 160 shops, Sheng Bai Jiao, said 20% shop tenancies expired this year, and now the rent increases have slowed down in the deteriorating retail market.
For retailers in Hongkong who have offered a discount in advance, Sheng Bai pepper says BELLE will not follow suit.
In addition, Sheng Bai Jiao said that the current online business accounts for only about 3-4% of BELLE group, which has limited overall impact on the group, but the company will invest more resources in the future.
On Tuesday, BELLE's share price rose 1.73% to HK $8.23.
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