Giordano Q3 revenue falls 8.3pc on Indonesia, mainland online business drag

Giordano International (0709) recorded a revenue drop of 8.3 percent year on year to HK$820 million in the third quarter, dragged by the sales revenue in non-Giordano brands in Indonesia and the strategic decision in relation to the mainland China online business.

The retail company’s revenue in Greater China declined 13 percent to HK$352 million, while revenue in Southeast Asia and Australia fell 6.5 percent to HK$302 million, and revenue in Gult Cooperation Council rose 1.2 percent to HK$166 million.

Its same-store sales edged 7.1 percent lower to HK$605 million, with Hong Kong reporting same-store sales growth of 3.4 percent.

Giordano’s revenue in the first three quarter fell 3.3 percent to HK$2.73 billion. Revenue by region all recorded a decline, with Greater China, Southeast Asia and Australia, and Gulf Cooperation Council dropping 4.7 percent, 1 percent, and 4.5 percent.
 

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