Giordano sees marginal increase in sales; Vietnam market grows

 

Giordano International, a popular casual clothing brand of Hong Kong, witnessed a marginal increase in sales for last year, while there was slump in its profit during the same period.

The group-wide sales for the brand clocked US $ 5.509 billion last year, which is an increase of 1.8 per cent. The same-store sales marginally fell by 0.1 percent and the profit attributable to shareholders was down by 4 per cent to touch US $ 480 million.

The brand said in a stock exchange filing that its physical store sales saw a growth rate of 1.7 per cent whereas the online sales rose by 1.3 per cent.

Giordano saw the best growth in ladieswear and kidswear section last year, with both the categories seeing an increase by 6.9 per cent.

Among its markets, Vietnam market grew to account for 5.6 per cent of brandís regional sales with a good increase in operating profits too. Similarly, operating profit from Thailand also increased by an impressive 11.1 per cent owing to stable sales growth.

The retail sector in Hong Kong and Macau struggled mainly due to economic slowdown since Q3 of last year and also warm winter.

 

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