Sa Sa Q1 turnover jumps 23pc, plans 6 to 7 new HK stores

Sa Sa International (0178) reported a 22.9 percent year-on-year increase in first-quarter turnover to HK$1.18 billion, driven by robust offline sales in Hong Kong and Macao. 

Offline sales in the two cities climbed 31 percent to HK$900.5 million, with same-store sales surging 30.1 percent. Meanwhile, offline turnover in Southeast Asia increased by 15.1 percent YoY to HK$91.7 million.

Total online sales, however, slipped 2.9 percent to HK$187.1 million. The company attributed this to a strategic reduction in lower-margin bulk B2B orders to reserve inventory for higher-margin and growing offline retail and B2C online orders, driving a continued improvement in the profitability of its online operations. 

To meet growing consumer demand, the company plans to open six to seven new stores in Hong Kong during the first half of the financial year. 

Share of Sa Sa International closed at HK$0.93, rose about 1 percent on Wednesday.

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