Bauhaus International closing stores
Streetwear retailer Bauhaus International Holdings has started closing shops in Hong Kong and Macau as its same-store sales continue their downward trend.
In Mainland China, its same-store sales managed growth of 5 per cent for its first quarter to March 31 following a 3 per cent dip for the fiscal year.
Both the Hong Kong/Macau and the Taiwan segments of the company had declines in same-store sales, down 11 and 23 per cent respectively for the quarter. Year on year, same-store sales fell 13 and 3 per cent respectively.
As the end of March 31, the apparel retailer had 196 self-managed shops, 18 fewer than a year earlier. The number of self-managed shops in Hong Kong and Macau fell by six to 80.
China had the most significant drop, with nine closures to reach 25 stores.
With the largest number of self-managed shops, Taiwan also posted the least significant decrease with only three closures.
Established in Hong Kong in 1991, Bauhaus listed in 2005. 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.