Macau | Filmmaking company for LRT project was chosen based on rating criteria - GIT
| 07:13pm
Macau | Abuse might occur if Gov't covers entire insurance premium for citizens - local group
| 06:00pm
Austria's far-right to enter government
| 05:45pm
Macau | Small population and abundant public coffers make universal medical insurance system feasible – legislator
| 05:24pm
Man with knife shot at Amsterdam airport; suspect is known offender
| 03:00pm
Toll rises to two dead after Indonesia quake
| 02:30pm
Wounded North Korean defector transferred to South Korean military hospital
| 02:00pm
Australian PM's future at stake in crucial Sydney by-election
| 01:30pm
Macau | Gov't to launch measures to promote healthy housing market development
| 01:00pm
Japan eyes US$46bln defence budget to counter N. Korea: report
| 12:15pm

Tod’s store traffic, consumer spending declining

The luxury shoes and leather goods manufacturer says sales in the Special Administrative Regions are weakening

The luxury shoes and leather goods manufacturer Tod’s is going through tough times in Macau and Hong Kong. According to the results of the Italian company for the first quarter of the year, sales have been weak in both Special Administrative Regions. The reasons behind the slowdown are ‘the general sharp decline of store traffic and consumer spending’. The results of the company aggregate the markets in Macau and Hong Kong with Mainland China and Taiwan. In respect to this, the region of Greater China recorded a 3.9 per cent year-on-year decline in sales during the first quarter of this year from 56.1 million euros (MOP488.5 million) to 53.9 million euros (MOP469.4 million). Overall, the sales of the group totalled 257.7 million euros (MOP2.24 billion), which represent an increase year-on-year of 1.5 per cent in relation to the first quarter of 2014, when sales generated 253.8 million euros (MOP2.21 billion). “The quarter’s results reflect a still challenging economic and monetary environment, with the persistent weakness of some important markets for luxury goods; in some parts of the world, they have been also influenced by the very bad weather conditions and by late deliveries of important products”, the Chairman and CEO of the Italian group, Diego Della Valle, explained. “The short term profitability has been temporarily impacted by the investments made in recent years, but we are confident we will recover it, or may even improve it, in a midterm perspective”, he added. Besides selling products of its own brand, Tod’s shops sell Hogan, Roger Vivier and Fay products. In Macau, the Group has one shop in The Venetian, while in Hong Kong it has 11 shops. J.S.F.

OPINION

624 POSTS0 COMMENTS
228 POSTS0 COMMENTS
186 POSTS0 COMMENTS
103 POSTS0 COMMENTS