Jordan Is Expected To Lose HK $110 Million To HK $130 Million In 2020

A few days ago, the Hong Kong clothing brand Jordan Nuo issued a profit warning announcement, which showed that the preliminary assessment of the unaudited consolidated management accounts as of December 31, 2020 shows that the net annual loss attributable to shareholders is HK $110 million to HK $130 million, compared with HK $230 million in the same period of 2019.

According to the interim results released on August 11, 2020, a net loss of HK $175 million was recorded for the six months ended June 30, 2020, according to Giordano. However, with the positive trend in retail sales and improved consumer confidence, the Group expects a net of HK $45 million to HK $65 million in the second half of 2020. The estimated net does not take into account further potential asset impairment charges, if any. Nevertheless, the profit in the second half of 2020 is still unable to reverse the loss recorded in the whole year.

Jordan will continue to seize all retail, online sales and franchise opportunities.