E-commerce to rescue for Le Saunda Holdings
Positive e-commerce sales for the first quarter have proven a bright spot for footwear manufacturer/retailer Le Saunda Holdings.
Unaudited data of the group’s retail business for the three months to the end of May shows total sales fell 18.2 per cent while same-store sales declined 10.1 per cent year on year.
However, the group says its e-commerce business grew 6.4 per cent.
As at the end of May, the group had 664 outlets in Mainland China, Hong Kong and Macau, 110 fewer outlets than at the same time a year earlier. These comprised 597 self-owned outlets as well as 67 franchised outlets in China.
Chairman James Ngai says the data has yet to be audited or reviewed by the company’s auditors.