Giordano'S First Quarter Sales Surged 13.4%. Baleno'S Annual Profit Fell 40%.

Stimulated by double-digit growth in mainland China and Taiwan, Hongkong leisure

Retailer Giordano International Ltd (0709.HK) surged 13.4% to HK $1 billion 457 million in the first quarter and a 7.9% increase in fixed exchange rate.

Up to the end of March, in the 2018 fiscal year quarter, Hongkong group's same store sales recorded an increase of 9.5%, an increase of 8.7% over gross margin.

In the first quarter, Giordano's electricity business recorded HK $81 million in revenue, up 44.6% annually, accounting for 5.5% of the group's total turnover.

Among them, the Chinese mainland electricity supplier accounted for 87.9% of the channel sales, and recorded an increase of 28.9%.

According to brand, core Giordano brand accounts for 86.5% of sales.

The growth rate was 15.1% higher than that in the first quarter, while children's clothing Giordano Junior was stronger, and the increase was as high as 26.9%. The high-end women's clothing brand also had a 6.3% increase in the period of Giordano Ladies, and its gross profit margin soared by 230bps, stimulating 9.7% of the gross profit of the comparable store.

During the reporting period, the gross profit margin of Giordano increased by 12.5% to HK $847 million, and gross margin was 58.1%, down 50bps compared with the same period last year. The decline in gross margin was mainly due to the change of channel combination and the longer promotion period in the Chinese lunar calendar compared with the latter.

As of the end of March, the group operated 2414 stores with a total area of 2307300 square feet, of which about 1271 were direct outlets.

On the same day, Hongkong is famous.

Brand Company Baleno Baleno controlling shareholder Texwinca Holdings Ltd. (0321.HK) de wing Jia group issued surplus police, expected by the 2017 fiscal year in March 31, 2018, after tax profits will drop about 40%.

Dewing said that the decline in profits was mainly due to the sale of trademarks by the group in fiscal year 2016, which recorded a one-time HK $152 million yield. In addition, the provision for taxes was insufficient in previous years, and the additional provision of tax provision in fiscal 2017 was 133 million.

This surplus police has been the third surplus police in the past year, because of the sale of trademarks and RMB appreciation, resulting in a foreign exchange loss.

Data show that in the 2017 fiscal year, the net profit of Germany Yongjia was HK $180 million 200 thousand, a year-on-year drop of 48.9%, compared with HK $351 million 500 thousand in 2016.

During the period, retail business revenue, including Baleno, S&K, I.P. Zone and Ebase, decreased by 12.3% to HK $1 billion 652 million per year, and the operating deficit increased from HK $1 million to HK $36 million.