Le Saunda sales plunge 30 per cent

Le Saunda sales plunged 30 per cent in the fourth quarter as the embattled shoe retailer struggles to attract customers.

According to a stock exchange filing, sales at Le Saunda’s self-owned stores fell by 29.9 per cent in the quarter, with same-store sales declining 17.4 per cent.  

That followed a cull of 161 stores over 12 months across Mainland China, Hong Kong and Macau.

Sales by the group’s e-commerce business fell by 4.1 per cent, compared with the same period last year.

Le Saunda has 526 stores remaining across its three markets, with 464 of them self-owned and 62 franchised on the mainland.

The company said it expects the group to record a net loss attributable to shareholders for the 2018-19 financial year, primarily attributable to the decrease in sales, and a declining gross profit margin. Le Saunda did not give an estimate for the loss.


Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

Inside Retail Polls

What do you think of the new Zara logo?

    FREE NEWS BRIEFS Get breaking news delivered