Giordano International's Revenue Slips Over 1% in Q3

MT Newswires Live
10/23

Giordano International (HKG:0709) reported third-quarter revenue of HK$894 million, down 1.4% from HK$907 million a year earlier, according to a Thursday Hong Kong bourse filing.

Revenue in Greater China was flat at HK$407 million, while sales in Southeast Asia and Australia declined 8.5% to HK$323 million. Revenue from the Gulf Cooperation Council region rose nearly 12% to HK$164 million.

Online revenue climbed 16% year over year to HK$134 million, offsetting a 4.9% decline in offline sales.

Group same-store sales slipped 0.5% to HK$641 million from HK$644 million.

As of Sept. 30, the apparel retailer operated 1,627 stores, down from 1,749 a year earlier.

Shares of the international apparel and accessories retailer were down nearly 1% in Thursday's recent trade.

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