Li Bang: "Changing Handsome" Also Can Not Save Sales Decline 19 Stores In The Mainland

Insist on "tailor-made" high-end men in Hongkong Feng Shi group.

Retailer Trinity Ltd.

Holding (00891) announced its first half year results in Hongkong on 9 th, with a loss of more than HK $200 million in the first half of June 30, 2016 (2015 yuan in the whole year, 47 million 412 thousand yuan), with a basic loss of HK $0.115 per share and no medium-term interest rate.

LeBon agency

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Jeremy Paul Egerton Hobbins, chief executive of Li bang, said that the loss in the half year increased by HK $200 million, mainly due to an increase of $51 million 900 thousand in core operating losses, a restructuring cost of $22 million 800 thousand, and a decrease of 22 million 600 thousand yuan in the first half of this year's income tax deduction.

Affected by the low consumption environment in the Greater China region, the first half of the year, Li Bang holdings gained HK $890 million, down 11.5%.

Among them, the same store sales in Hong Kong and Macao fell by 11.9% year-on-year, gross margin decreased by 2.6 percentage points to 68.1%, and the closure of 19 mainland stores.

The company expects the overall retail environment to remain challenging in the short and medium term. Unless the market improves significantly, there will be no significant improvement in financial performance in the second half of this year.

In the first half of the year, Li Bang holdings tried to change the situation of losing money through "replacing the handsome", but it was still useless after all.

Reporters learned that in early June of this year, the Richard Samuel Cohen, the chief executive of Li Bang holdings, stepped down and Jeremy Paul Egerton Hobbins took over.

Some people pointed out that in the past Richard Samuel Cohen performance, the performance of Li bang in the past two years, there is no accident.

Richard Samuel Cohen has served Burberry, aks Inc. Sax, Ermenegildo Zegna Corp. Zegna, and has rich experience in high-end retail and men's wear business.

The new chief executive, Jeremy Paul Egerton Hobbins, joined the Feng Bang Group of Li Bang parent company in 1999. It was previously a non-executive director of Feng's group and Retail Asia Limited (00831) Leah retail Co., Ltd.

Prior to joining Feng's group, Hobbins served as the management of several companies, including Inchcape Marketing Services-Asia Pacific and CEO of Affiliated Companies listed in Singapore, CEO of Inchcape Buying Services, President of the United Kingdom Campbell CEO, and President of Canada.

Hobbins also served in Procter & Gamble, and Hutchison Whampoa and Cadbury Schweppes.

Jeremy told reporters that his main task in the second half is to continue to improve production, inventory management and improve supply chain, reduce existing inventory and improve sales level.

Enhance brand influence and ensure that store products can meet the core needs of mainland consumers and attract major Chinese customers both at home and abroad.

In addition, the conference announced that Li Bang appointed non-executive director Feng Yongyi to replace von Guo LAN as vice chairman of the company, and appointed Feng Yuming as a non-executive director. The appointment will take effect tomorrow.