SaSa sales surge 25 per cent in first quarter
SaSa sales have soared by 24.8 per cent in the first quarter as mainland tourists returned to Hong Kong to shop.
But while the improvement was most spectacular in the company’s home market, retail and wholesale turnover in other markets outside Hong Kong and Macau – including Mainland China, Singapore, Malaysia and online – also increased, by a healthy 10.5 per cent.
The group reported a 27.7 per cent increase in sales in Hong Kong and Macau, with same-store sales up by 25.3 per cent. The number of individual transactions made by mainlanders in those markets increased by 27.5 per cent.
The average sale per transaction of local consumers and mainland tourists increased by 8.1 per cent and 7 per cent respectively.
However, Sasa International tempered the excitement, warning of a World Cup effect, among other factors, from late June.
“Consumer sentiment was affected by unstable weather in June, fluctuations in both stock market and RMB exchange rate under uncertainties of Sino-US Trade War as well as the 2018 FIFA World Cup, resulting in slower sales growth in late June. Looking beyond the immediate effect of the above factors, the group remains optimistic towards the outlook of Hong Kong and Macau markets, especially after the Hong Kong Section of the Express Railway Link begins to run in the second half of this calendar year which is expected to further boost mainland tourist arrivals to Hong Kong,” said Sa Sa International chairman and CEO Simon Kwok.
“The group will continue to seize the opportunities, develop strategies to enhance competitiveness and proactively improve operational and logistics efficiencies.”