Stelux sales slump further – except at eGG
Stelux sales continue to slide with City Chain and Optical 88 performing badly in all markets – and only new-generation fashion eyewear brand eGG shining.
In a market update, in advance of the release of final first-quarter data, Stelux reported a year-on-year sales decline of 9.5 per cent (reduced to 8.4 per cent on a foreign-exchange neutral basis) to HK$624.7 million for the June quarter. However, it pointed out that was an improvement on the 16.2 per cent decline for the full financial year to March 31.
The decline follows a reduction in its retail network of 11.3 per cent.
City Chain sales fell 16.6 per cent in Greater China and by 7.9 per cent in Southeast Asia, for a total decline of 14.4 per cent.
Optical 88 sales fell by 3.6 per cent in Greater China and by 17.3 per cent in Southeast Asia, for a total decline of 6.3 per cent.
But eGG sales rose by 9.5 per cent and 29 per cent respectively, for a 10.7 per cent overall improvement.
Wholesale sales plunged 23.6 per cent in Greater China, but rose 1.5 per cent in Southeast Asia for an overall decline of 12.8 per cent.