OmniaLuo same stores sales decline in Q4 08

25 Feb '09

1 min read

OmniaLuo Inc, a China-based company engaged in the business of designing, developing, marketing and distributing fine women's apparel under the brand name OMNIALUO, announced fourth quarter and full year 2008 same store sales results.

In dollar terms, same stores sales fell by approximately 0.2% in the quarter ended December 31, 2008, while for the full year ended December 31, 2008 they rose in aggregate by approximately 79%. These assume average annual 1 USD/RMB exchange rates of 6.9623 for 2008 and 7.6172 for 2007.

"Given the state of the global economy, we remain very encouraged by our 2008 same store sales results," stated Cindy Luo, OmniaLuo Chairwoman and CEO. "However, Chinese consumer spending has been by no means immune to the world's economic contraction, and we saw that reflected in sharply lower fourth quarter 2008 sales. That trend may continue in the near term but we are confident in our future growth prospects."

Same store sales data was collected from the 29 company and co-owned stores open for full years 2007 and 2008. The Company cannot accurately report on results from independent distributor stores.

OmniaLuo Inc

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