Home / Knowledge / News / Apparel/Garments / Giordano Q3 sales up 5% on strong retail sales
Giordano Q3 sales up 5% on strong retail sales
22
Jan '14
Beating the slowdown blues, Hong Kong-based apparel retailer Giordano has reported 5 per cent growth in its sales at HK$ 1,333 million for the third quarter ended September 30, 2013, driven by strong demand from the Chinese mainland.
 
Founded in 1981 by Jimmy Lai, the company has posted sales of HK$ 1,270 million in the three months ended September 30, 2012, Giordano said in a regulatory filing. 
 
During the three month under review, the retailer witnessed a 9 per cent rise in its gross profit which stood at HK$ 802 million from HK$ 733 million in the same period a year ago. Earnings were boosted by robust demand for the casual-wear apparel from South East Asia emerging markets (Thailand and Indonesia). 
 
Despite the weak global environment, the company has maintained growth momentum for the second consecutive quarter in FY’14 as it remained committed to drive the business towards delivering consistent, competitive, profitable and responsible growth. 
 
Region wise, Giordano sales in mainland China were up 22 per cent on year-on-year basis, followed by 6 per cent in Singapore and 1 per cent in Hong Kong, while its sales in Taiwan declined 2 per cent. 
 
Giordano Ladies recorded the strongest third-quarter sales increase of 13 per cent, the company said.
 
However, global brand sales were slightly down 1 per cent than in the same period last year due to closure of shops and continue discounting in apparel market.
 
The company expects to see pick up in brand sales growth with improved marketing campaign in the fourth quarter of the current fiscal. The company aims to execute general strategy to deliver fresh merchandise, marketing programs and an upgraded store network to other markets, in particular highly competitive markets in Greater China and Singapore.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search