Aeon Stores Hong Kong: H1 sales up 6.7%

Date : 29 September 2020

Charles Chan

Senior Retail Analyst

Aeon Stores Hong Kong, which operates stores in Hong Kong and on mainland China has posted a 6.7% increase in sales revenue to HKD5,158m (US$665.5m) for the six months ended June 30, 2020.

Hong Kong revenue up 15.9% YoY

Revenue from Hong Kong operations in the first half increased by 15.9% to HKD2,423m YoY. The Group expects to expedite the opening of Living Plaza branches in the third quarter of 2020, with the goal of opening 15 branches this year.  

Aeon plans to open several new Living Plaza stores, significantly exceeding 2019. The retailer will also continue to strengthen its online offer, including click and collect and lunch delivery services.

Mainland China revenue down 0.1% YoY

Revenue fell from mainland China operations in the first half fell 0.1% to HKD2,734m YoY (excluding Qingdao Ministop). This was partially offset by the 4.6% depreciation of CNY against the HKD over the same period last year. Aeon believes that the Chinese market has huge growth potential. It has turned around profitability, posting H1 profit of HKD2.1m verses a loss of HKD65.6m for the same period last year.

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