The heavy losses incurred by Bossini International in the 6 months up to December 2018 have been attributed to warm winter as well as poor consumer sentiments in core markets.
Bossini, the Hong Kong-based apparel brand owner and retailer, witnessed a 10 per cent slump in group revenue to touch US $ 111.5 million. Besides, it also saw a 5 per cent fall in same-store sales for the same period.
The gross profit slumped by 11 per cent whereas the loss accredited to shareholders for the same period was as much as US $ 3.3 million.
It is worth noting that the operating profit in Hong Kong and Macau markets has been on the rise for the apparel retailer despite a fall of 5 per cent in same-store sales.
In Singapore too, sales nosedived (23 per cent) mainly due to store closures, whereas same-store sales dipped by 6 per cent. In Taiwan and Mainland China, the same-store sales fell by 7 per cent and 3 per cent, respectively.
Strong inbound tourism, especially from Mainland China, was recorded in Hong Kong. However, the consumption per capita started declining in Q3, despite the yearly increasing numbers of tourist arrivals in Hong Kong.
