Typhoons fail to dampen Sa Sa International sales
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Despite typhoons and poor tourist numbers buffeting sales for discount cosmetics chain Sa Sa International Holdings in its second quarter, it still managed to grow turnover.
Its retail and wholesale turnover increased by 1.1 per cent year on year to HK$1.918 billion (US$245.9 million), the company’s unaudited update shows. Covering the period to September 30, the figures include National Day Golden Week Holiday.
Retail sales in Hong Kong/Macau grew by 2.1 per cent to $1.574 billion, while same-store sales fell by 1.8 per cent following stores being relocated in tourist areas.
“The overall sales performance was below our expectations because of typhoons and poor weather, resulting in weaker store traffic and tourist numbers,” says the company.
There were 4.6 million transactions, down by 1.8 per cent, with those of local and mainland tourists dropping by 1.1 and 2.5 per cent respectively. However, the average transaction value was up by 5.9 and 3.8 per cent respectively.
Turnover grew in other markets – 5.9 per cent for Mainland China, 4.2 per cent for Singapore and 0.5 per cent for Malaysia, while for Taiwan e-commerce improved by 4.1 per cent while turnover had a 15.5 per cent dive.
Questions & Answers
Q.What was the total retail and wholesale turnover for Sa Sa International in the second quarter?
What was the total retail and wholesale turnover for Sa Sa International in the second quarter?
The company's unaudited update shows its retail and wholesale turnover increased by 1.1 per cent year on year. This amounted to HK$1.918 billion (US$245.9 million) for the period ending September 30.
Q.How did retail sales perform specifically in Hong Kong and Macau?
How did retail sales perform specifically in Hong Kong and Macau?
Retail sales in Hong Kong and Macau grew by 2.1 per cent, reaching $1.574 billion. However, same-store sales in these regions fell by 1.8 per cent, partly due to store relocations in tourist areas.
Q.What factors did Sa Sa International identify as impacting their sales performance?
What factors did Sa Sa International identify as impacting their sales performance?
The company stated that overall sales were below expectations due to typhoons and poor weather conditions. These factors resulted in weaker store traffic and reduced tourist numbers.
Q.Which international markets showed an increase in turnover for Sa Sa International?
Which international markets showed an increase in turnover for Sa Sa International?
Turnover grew in several other markets. Mainland China saw a 5.9 per cent increase, Singapore's turnover was up by 4.2 per cent, and Malaysia experienced a 0.5 per cent growth.
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