Sales momentum in China, Japan boosts I.T returns
Stable sales momentum in China and Japan helped deliver positive comparable-store sales growth for its first quarter, reports multi-brand fashion house I.T.
It says that with high running costs, the environment is still challenging in the retail sector.
Chairman Sham Kar Wai says less discounts were given in the quarter than the same period last year, resulting in the group’s gross profit margin being enhanced 2.1 per cent.
Based on unaudited figures, the first-quarter operating performance of the group showed a material improvement year on year.
I.T says this was mainly because of better gross profit margin and a less harsh working environment than last year’s first quarter.