Hong Kong - News & Analysis

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...
10 March 2020
A.S. Watson has opened a Watsons Play Glam concept store at Tuen Mun Town Plaza, Hong Kong. Digitising in-store and increasing shopper interaction The grand opening of Watsons Play Glam was on 20 th January. It operates approx. 418 sq m / 4,500 sq ft, carrying more than 15,000 products from 7,100 health and beauty brands. The store has various customer interactive experience zones, a stron...
05 March 2020
Dairy Farm has reported a mixed set of results for the fiscal year ended 31 st December 2019. Performance of its Southeast Asia Grocery Retail and Health and Beauty businesses improved, but underlying profit for the Group was impacted by social unrest in Hong Kong. Sales growth from 4 out of 5 divisions, but 2019 sales down 4.7% Dairy Farm’s sales in 2019 fell 4.7% to US$11.1bn year-on-yea...
19 February 2020
Foodpanda has launched its on-demand grocery delivery service, Pandamart, in Hong Kong. Committed to increasing partners and products Foodpanda began testing Pandamart last November. During testing, Pandamart was able to fulfil orders within 25 minutes. The service aims to maintain an average delivery time of 15 minutes. Foodpanda partners with 1,000 businesses and sells more than 14,000...
12 February 2020
Sa Sa International has reported a 76.9% decline in Hong Kong and Macau sales during Lunar New Year. Sales, volume and footfall plummeting As a result of poor local sentiment, Sa Sa has closed 21 stores and will “substantially strengthen control measures” in order to reduce losses. Its executive directors have taken a 75% salary reduction for three months. Sa Sa’s retail sales in Hong ...