Trinity Limited expecting higher loss
Luxury menswear retailer Trinity Limited has announced it expects a “significantly higher” loss for the half-year ending June 30.
Its performance has been hit by the ongoing depressed state of Hong Kong and Macau’s retail market because of the drop in Chinese tourism and subdued local spending. The situation was compounded by widespread discounting and dampened consumer sentiment on the mainland.
Against this backdrop and deteriorating market conditions, a new CEO has been appointed who will realign senior management and reorganisation operations to optimise manufacturing, inventory management and supply-chain execution, says the group.
The group’s fiscal assessment is subject to changes in market conditions and further review by management when the financials for the half-year become available. The results will be released in August.
At this time, Trinity expects the full-year loss will be higher than last year, unless market
conditions improve considerably.