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