Shops Rent Down Half A Year To Earn Two Hundred Million Of Giordano Want To Expand The Hong Kong Store

As report goes,

(709) roar the timing of rental rents and expand the Hong Kong and China store network.

The company announced yesterday that the net profit fell by 2% to 204 million yuan at the end of June this year, to 12.5 cents per share, with a profit of 13 cents per share.

Liu Guoquan, the chairman of the company, has made a "three no" pledge, and does not shut down stores, do not reduce prices, or lay off workers in the second half of the year.

The company will open three branches in Hongkong in the second half of the year, and will open one in Tongluowan in October.

Shop.

The company's sales fell by 7% during the period to 2 billion 532 million yuan, mainly due to the closing of the poor performance market and the weakening of the Southeast Asian currency and the weakening of local sales growth.

Sales in Hong Kong and Macao fell by 5% from year to year to 457 million yuan. He explained that the flagship store in Hongkong was closed by 7788, and the rental of shops also showed signs of decline.

Gross profit margin increased by 2.4 percentage points to 59.6% during the period, mainly due to the group's renewed focus on simpler products.

It enables the company to maintain its selling price and reduce its price.

He said the company's gross profit margin has improved and conditions have been reduced.

But there is no clear inventory pressure, so there is no intention to reduce sales.

In addition, Liu Guoquan expects sales value of retail clothing in Hongkong to drop by 7 to 8% in the second half, while the company's sales performance will maintain a record for the first half year.

In the first half of this year, the same store sales in Hong Kong and Macao increased by 1% annually, and the growth rate could continue to grow in the third quarter.

On the Chinese market, Liu Guoquan believes that although China's economy has slowed down, the consumption power of the three or four tier cities is still strong.

Therefore, the expansion of the franchise network to the three or four tier cities will increase 100 to 200 franchises in the second half of the year.

At the same time, it will increase investment in e-commerce. It will add an additional 120 thousand foot automated logistics center in Huadu, Guangzhou. It will put in 10 million to 20 million yuan and install the conveyor belt. The material will be fully put into operation next year from 2 to March. The company's annual capital expenditure will be about 80 million yuan.

Giordano yesterday closed at 4.2 yuan, up 0.7%.