Le Saunda Holdings (HKG:0738) expects consolidated loss attributable to the equity shareholders between 93 million yuan and 115 million yuan for the fiscal year ended Feb. 28, wider than the 23.5 million loss from the preceding fiscal year, according to a Monday filing with the Hong Kong Stock Exchange.

The footwear, bags, and accessories seller attributed the expected increase to the slower retail market, which decreased retail sales, additional discounts, which decreased gross profit margins, and one-off costs related to the closure of certain stores and optimization of administrative staff.

During the fiscal fourth quarter that ended Feb. 28, the company's self-owned retail business sales slid 36.9% year-on-year, same-store sales fell 12.2%, and E-commerce sales declined 5.2%, the filing said.

The number of retail outlets decreased by 130 to 153 during the quarter compared with the same period last year. The company's total outlets included 132 self-owned outlets and 21 franchised ones in mainland China.

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