Sales Of Hongkong SOGO Department Store Continued To Decline

Despite the fact that many luxury brands choose to enter Hongkong as a site to enter the mainland market in early 2016, the weakness and recession of Hongkong's retail market have not diminished.

Recently, Hongkong's SOGO Department released its earnings report, which is confirmed by the side.

As the parent company of Hongkong and mainland, sogu department store Limited, Li Fu International Group Co., Ltd. yesterday released 2015 earnings data, and its revenue grew by 3.4% in 2015. The sales revenue reached HK $13 billion 800 million in the fiscal year ended December 31, 2015, representing an increase of 1.6% over the 2014 fiscal year.

The SOGO Department store was affected by the decline in mainland tourists and local consumption, recorded a 4.5% decline in sales revenue, while the store also recorded an annual reduction of 2.4% of passenger traffic decline.

The same store sales fell 1.7% from the first half of the year, and continued to deteriorate, which recorded a 4.7% decline in the whole year.

According to the news of the earnings report, Li Fu International reported a HK $9.45 gain of 0.21% on Monday, which has already won 1.3% of the Hang Seng Index.

However, the group chairman continued to say that although the Hong Kong dollar exchange rate strengthened, the group did not buy it.

Plan.

But in terms of SOGO and Hongkong's retail industry, Hongkong's market needs to be cautious.

Although in the detailed earnings report, the chairman of riff International

He did not disclose more data, but he said that so far this year, the performance of Tongluowan's sogbo treasure has been disappointing, and the same store sales in 1 and February have widened to double digits.

He hopes to hit the bottom in the two quarter or the second half.

In the face of such a sluggish retail trade in Hongkong, he still has confidence in Hongkong road.

In order to meet the requirements of businesses to stimulate business growth, the group will extend the week of thanks week in the first half of this year.

However, for the main Department of SOGO, the sales pressure of luxury goods will be further increased, because Hongkong's domestic consumption is low, and the number of visitors continues to decrease. At the same time, the continuous progress of anti-corruption measures will also affect the luxury sales of SOGO Department store.