Hong Kong - News & Analysis

05 May 2020
A.S. Watson has converted part of a water plant into a face mask production line in Tai Po, New Territories, Hong Kong, responding to high demand for masks following the outbreak of COVID-19. Capacity for 10m face masks a month From mid-May, A.S. Watson will sell three-layer, bacterial-filtering face masks priced at HKD79.9 (US$10) per box of 30 at its Watsons stores and online in Hong Kong...
29 April 2020
The coronavirus outbreak has changed Asian consumers’ habits, especially in Hong Kong and China. A trend that can be seen across markets Survey research shows a high share of consumers claimed they prefer to eat at home more often now than they did in the pre-COVID period. The trend can be seen in several Asian markets, but is much more pronounced in China and Hong Kong: China : 86% ...
22 April 2020
The first IKEA store will open in Macau tomorrow (April 23). However, due to the Coronavirus (COVID-19) outbreak, the store will use an appointment registration system to limit the number of people from entering at any given time. Across two levels covering 8,361 sq m / 90,000 sf ft The new IKEA store is spread across two levels, covering approx. 8,361 sq m / 90,000 sf ft. It is located in ...
20 April 2020
Dairy Farm’s 7-Eleven has so far donated 70,000 food meals to families in Hong Kong. Its ‘one heart support’ campaign partners with non-profit organisations, issuing meal vouchers to support those in need. How does it work? The public can donate one rice voucher at a price of HKD15 (US$1.9) and select the organisation to donate. 7-Eleven is working with five non-profit organisations registe...
17 April 2020
Mannings has partnered with seven public hospitals in Hong Kong, allowing residents to collect their prescriptions at its in-store pharmacies. Service available to patients at specialist out-patient clinics Once patients have their application and prescription confirmed at a specialist out-patient clinic, individuals can visit a designated Mannings store to request collection. Mannings will...
16 April 2020
Beauty-products retailer, Sa Sa International, has posted its Q4 results. Group turnover fell 56.5% to HKD892.4m (US$115.1m). Multiples factors impacting turnover The significant decline in Group turnover was partly due to the closure of Sa Sa’s Singapore business. Sales to mainlanders in Hong Kong and Macau fell 80.8%, as consumer sentiment and travel restrictions following Coronavirus (CO...
24 March 2020
From midnight tonight, Hong Kong will ban non-residents and transit arrivals from entering the city for 14 days in an effort to prevent a second wave of imported coronavirus cases. More stringent restrictions Carrie Lam, Hong Kong’s Chief Executive, said, “From midnight of Mar 25, all non-Hong Kong residents flying in from overseas will not be allowed into the city." All arrivals will be su...
19 March 2020
A.S. Watson has posted its annual results for the year ended 31 December 2019. Total retail revenue was up 4% in local currencies, but flat at HKD169.2bn (US$21.8bn) after foreign currency translation impacts. Results summary – revenue up across all H&B divisions in local currencies  Total retail revenue (H&B segments and Other Retail), EBITDA and EBIT of HKD169.2bn (US$21.8bn), HKD16.9b...
16 March 2020
The sale of a majority stake in Hong Kong-based supermarket chain City’super has attracted interest from CR Vanguard and Yonghui, Bloomberg reports. Hong Kong's landscape may consolidate Earlier this year , Bloomberg reported that Fenix Group was looking for potential buyers to sell its majority stake in City Super Group. The first-round of bids could be as soon as later this month. CR ...
10 March 2020
Despite challenging trading conditions, Hong Kong-based Convenience Retail Asia (CRA) has posted a robust set of annual results, with Group revenue increasing by 5.9% to HKD5,632m (US$724.8m). Revenue and profits up despite tough trading conditions Overall increase in revenue was mainly attributed to a 6.1% growth in comparable-store sales for the convenience store business (turnover increa...