Thursday, January 17, 2019
 
Columnist
Martin Hennecke

Sa Sa revenues dip 2.2pc to $2.2b
 
11/01/2019
 
Local cosmetics retailer Sa Sa International's (0178) retail and wholesale turnover fell 2.2 percent year-on-year to HK$2.18 billion for the last quarter in 2018, amid sluggish consumer sentiment, hit by the weakening yuan, market fluctuation under the shadow of the Sino-US trade war, as well as China's new regulation on e-commerce. The new E-commerce Law passed by the Chinese government in August 2018 came into force early this year and made Daigou traders more cautious in running their businesses, the firm said. In Hong Kong and Macau markets, Sa Sa's retail and wholesale turnover decreased by 2.8 percent to HK$1.84 billion, while same store sales dropped by 3.7 percent. In other news, Sun Hung Kai Properties (0016) plans to spend HK$31.67 million on promotions for Chinese New Year and Valentine's Day across its 12 major malls.
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