HK's Sa Sa International to open new mainland outlets
Published: 30 Jun 2009 00:54:37 PSTJun. 30, 2009 (China Knowledge) - Sa Sa International Holdings Ltd<0178>, a leading cosmetics retailer and beauty service group in Asia, plans to increase the number of mainland sales outlets to 54 from 33 this fiscal year, and will open 12 new Sasa stores and seven beauty counters, said Siu Ming Kwok, chairman and CEO of the company, sources reported. Kwok said the company has already signed contracts to open seven or eight new mainland stores in several cities including Shanghai, Beijing and Hangzhou. Last year, the company opened six Sasa stores in Beijing and two in Wuhan, the capital of Hubei Province. Sa Sa's net profit declined 9% from a year earlier to HK$315.9 million in the fiscal year ended Mar. 31, sources reported. Its mainland operations, however, posted a total loss of HK$27.3 million in the same period. The company this year will maintain a prudent strategy towards lease renewal, possibly opting for store relocation, to manage rental pressure, according to industry sources. Copyright © 2009 www.chinaknowledge.com |
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