Le Saunda profit downhill as store network slashed
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Le Saunda sales slumped in the latest quarter as the Hong Kong footwear retailer slashed its store network.
In a stock-exchange announcement covering the fourth quarter, Le Saunda sales declined by 30.9 percent for the three months to February. It also noted a same-store sales decline of 18.5 percent, compared to last year.
Le Saunda currently operates 441 outlets in Mainland China, Hong Kong and Macau, including 55 franchised outlets – 85 fewer stores than it held as of February last year.
Despite the drop in sales at Le Saunda’s physical stores, the firm’s e-commerce business saw a total growth of 7.2 percent compared to last year.
Questions & Answers
Q.What was the overall sales decline for Le Saunda in the latest quarter?
What was the overall sales decline for Le Saunda in the latest quarter?
Le Saunda's total sales declined by 30.9 percent for the three months ending in February. This figure covers sales across its entire business, including physical stores and online channels.
Q.How many stores did Le Saunda close over the last year?
How many stores did Le Saunda close over the last year?
Le Saunda closed 85 stores compared to February last year. It currently operates 441 outlets across Mainland China, Hong Kong, and Macau, including 55 franchised locations.
Q.Did all of Le Saunda's business segments perform poorly in the latest quarter?
Did all of Le Saunda's business segments perform poorly in the latest quarter?
No, not all segments performed poorly. While physical store sales declined, the firm's e-commerce business experienced a growth of 7.2 percent compared to the previous year.