Le Saunda stagnates
Le Saunda, the Hong Kong-listed footwear and accessories manufacturer and retailer, says its online sales grew by 69.4 per cent in the first quarter.
But its performance offline was nowhere near as stellar: same store sales slipped three per cent and total sales rose just 0.1 per cent.
Le Saunda had 878 outlets in Mainland China, Hong Kong and Macau as at May 31, an increase of 22 year on year. Of those, 763 were self-owned and the balance of 115 – all in Mainland China – were franchised.
The figures were disclosed in a brief disclosure to the stock exchange, without commentary.