Rough quarter for Le Saunda Holdings
Footwear group Le Saunda Holdings took a step backward in its second quarter with sales dropping and fewer stores.
Preliminary, unaudited figures for its retail business show an 18 per cent drop in total sales, while same-store sales fell 14.3 per cent year on year.
This excludes e-commerce business, which slumped by 27.7 per cent for the three months to the end of August.
Meanwhile, the group’s total retail network at August 31 comprised 726 outlets in Mainland China, Hong Kong and Macau, a net decrease of 110. Of these, 656 were self-owned outlets in the three territories, with 70 franchised outlets in China.