Giordano International Limited witnessed a rise in its sales in Hong Kong and Macau in the third quarter of 2018.
The combined sales increase of the fast fashion retailer on a same-store basis was HK $ 2 million for the third quarter and HK $ 6 million for all three quarters (January to September).
The combined value for the third quarter was HK $ 226 million whereas it was HK $ 703 million for the nine months, till September.
Reportedly, while the company has been seeing a steady growth in its Hong Kong and Macau markets, its sales in the mainland region have dropped considerably by 5.2 per cent in the third quarter.
Further on the same, Peter Lau, Chairman and CEO, Giordano, said that the company on the whole has seen a sharp dip in its sales mainly owing to the receding confidence among customers in the Asia Pacific region.
Since June 2018, inclement weather and fierce competition have impacted the sales of the fashion retailer in a big way.
The group comparable-store sales in the Asia Pacific region slid by 2.8 per cent.
