Bauhaus sales slide in latest quarter
Bauhaus International has recorded a 10 per cent decline in same-store sales in the latest quarter.
But the overall picture of its performance is unclear given it expanded its store network by 30 outlets in the last nine months.
In a stock exchange filing this week, the company says same-store sales performance of its self-managed stores fell 3 per cent in Hong Kong and Macau in the three months to December 31 and 2 per cent in the nine month period.
Sales in Taiwan fell 18 per cent and 11 per cent respectively and in Mainland China by 12 per cent in both periods. Combined sales fell 10 per cent in the quarter and 4 per cent in the nine months.
Bauhaus designs and makes apparel and accessories which it wholesales and retails under its brand names including Bauhaus, Salad and Tough, and retails third-party labels including Superdry.
During the nine months to the end of December, Bauhaus added a net 30 stores, 23 of them on the mainland, four in Hong Kong and Macau and three in Taiwan.