Bauhaus International sales drop 10 per cent
Same-store sales for clothing retailer Bauhaus International in Hong Kong and Macau have dropped 10 per cent year-on-year for the three months ended December 31.
The streetwear retailer designs and makes apparel and accessories which it wholesales and retails under its brand names including Bauhaus, Salad and Tough, as well as third-party labels, including Superdry.
Sales in Mainland China decreased 4 per cent compared to the same period last year, according to its filing with the Hong Kong Stock Exchange.
The three-pronged decline in sales helped drive down the company’s overall same-store sales by 3 per cent year-on-year. Nevertheless, its same-store sales in Taiwan grew by 12 per cent.
Bauhaus International did not release the related financial figures in its filing.
At the end of last month, nine months into its fiscal year, its total sales had fallen by 9 per cent year-on-year; in particular, those generated in Hong Kong and Macau had dropped 14 per cent.
The company ended last year with 203 shops, of which 82 were in Hong Kong and Macau, 93 in Taiwan and 28 in China.
At the end of September, halfway through its fiscal year, the company had turnover of about HK$501.4 million (US$ million). Turnover in Hong Kong and Macau fell 18.5 per cent year-on-year, amounting to HK$348.1 million.
It also saw its interim net loss expand to HK$60 million from HK$26.6 million a year earlier. The company attributed this to the “adverse performance” of its retail business in Hong Kong.