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

Courtesy: ITMF

Textiles | On 25th Jun 2016

Global yarn output up 20% q-o-q in Q1 2016: ITMF

The global yarn production increased by 20 per cent...

Courtesy: Balmain

Fashion | On 25th Jun 2016

Qatari investment fund buys French label Balmain

Mayhoola for Investments, an investment fund backed by the Emir of...

Textiles | On 25th Jun 2016

Row over APTMA’s demand to ban cotton export to India

The All Pakistan Textile Mills Association’s (APTMA) demand to ban...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Frank Gossmann
Rotorcraft AG

What new innovations did Rotorcraft exhibit at the recent textile...

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...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search