• Fri
  • Dec 19, 2014
  • Updated: 4:18pm


Aeon buys Carrefour Malaysia assets

Carrefour, France's biggest grocer, agreed to sell its Malaysian operations to Aeon, Japan's largest retailer, for €250 million (HK$2.5 billion).

Friday, 2 November, 2012, 5:30am

Mid-Autumn Festival gives Hong Kong retail sales a bigger boost

Hong Kong retail sales

Retail sales in Hong Kong rose more than expected in September but there were signs of a slowdown in some segments.

Sales amounted to HK$34.1 billion in September, up 9.4 per cent on the same period last year, driven by the holiday spending during the Mid-Autumn Festival, according to the Hong Kong Census and Statistics Department.

2 Nov 2012 - 5:43am

Giordano sales fall 5pc as consumer demand weakens

Warm weather has delayed the sales of new products. Photo: May Tse

Casual wear chain Giordano International reported a 5 per cent decline in sales for the third quarter as the weak economy and late arrival of cold weather weighed on consumer spending. Giordano shares fell more than 2 per cent yesterday afternoon after the company released the results. They closed at HK$6.44, down 0.92 per cent, while the benchmark Hang Seng Index gained 1 per cent.

1 Nov 2012 - 4:48am

Siu King-chin - in tune with success

Letting the customers listen first, that is how Siu King-chin made Hong Kong Records a winner. Photo: Edward Wong

Visit a Hong Kong Records shop and there's a chance you'll encounter an amiable grey-haired man holding forth on what's hot and what's not in the music scene. That man is Siu King-chin, the founding owner of perhaps the city's biggest retailer of music and movies, doing what he loves most.

29 Oct 2012 - 10:54am

Big music retailers diversify to survive in internet age

Hong Kong Records founder Siu King-chin

The torrent of technological changes in the past couple of decades may have swept away the numerous music shops that once dotted Hong Kong, but some of the big retailers have managed to hold their ground.

Statistics from the International Federation of the Phonographic Industry show music sales in Hong Kong dropped to HK$400 million last year from HK$2.8 billion in 1989.

29 Oct 2012 - 5:08am

Rising yuan boosts mainland visitors's spending power

Supporters of the Reclaim Sheung Shui movement chant slogans against parallel goods traders. Photo: Nora Tam

Internet users across the border are enthusiastically discussing plans to shop in Hong Kong as the yuan climbs to a 19-year high.

The exchange rate has risen in the past few days, passing HK$1.25 as the yuan appreciated against the weak US dollar, to which the Hong Kong dollar is pegged. Beijing devalued its currency in late 1993.

24 Oct 2012 - 4:41am

Sportswear retailer Li Ning faces harsh winter

Li Ning raised more investor concerns in the past week after its founder said he would sell a 25 per cent stake in the firm. Photo: Bloomberg

On a weekday this month at Huawei Centre, a popular shopping spot in Beijing's Xidan shopping district, sales assistants at a Li Ning shop are removing cotton-padded overcoats and down-filled garments from cartons and arranging them for sale. The range is not from the new winter collection, but is goods left over from last year.

22 Oct 2012 - 4:47am

Li Ning to cut stake in sportswear firm

Li Ning, the founder and chairman of Li Ning Co, appears to be reducing his involvement in the mainland sportswear retailer. Photo: AFP

Li Ning, the founder and chairman of Li Ning Co, plans to sell a 25 per cent stake in the mainland sportswear retailer to Viva China Holdings, a sports talent management firm under his family's control.

18 Oct 2012 - 4:47am

Global economic woes put China near top in luxury market

A Gucci boutique in Beijing. Sales of luxury goods in China have consistently outperformed the global market, Euromonitor reports. Photo: AFP

China is set to become the world’s second biggest market for luxury goods after the United States in five years, overtaking France, Britain, Italy and Japan, an industry report said on Tuesday.

29 Aug 2013 - 4:13am

So, where have all the mainland spenders gone?

Shoppers at shopping mall in Tsim Sha Tsui  on September 30, 2012. Photo: SCMP

In addition to the tragic news about the Lamma Island ferry accident, the deadliest boat accident in Hong Kong in 40 years, retailers didn’t have a great holiday season either.

23 Oct 2012 - 3:30pm

Sheung Shui prices soar as mainland traders buy in bulk

A supporter of the cross-border traders tries to placate angry local protesters outside Sheung Shui station yesterday. Photo: David Wong

The average price of everyday goods in Sheung Shui is 10 to 20 per cent higher than in nearby districts as mainlanders flood in to snap up products to take across the border.

17 Sep 2012 - 10:47am 3 comments

Tokyo Best Buy opens second-hand shops in Hong Kong

Best Buy's Kagayaki Goda says the margin for used clothing and household goods can reach up to 70 per cent. Photo: Edmond So

Second-hand bag trader Milan Station is finding it increasingly tough to find Hong Kong shoppers prepared to fork out HK$50,000 for a second-hand bag.

17 Sep 2012 - 2:53am

Talking points

Pope Benedict visits Lebanon, the first papal visit since 1997.

Tight security as pope visits Lebanon

14 Sep 2012 - 2:47am

Luxury brands report slower sales as buyers reach their limit

A Burberry shop in Tsim Sha Tsui. The company said same-stores sales have stalled over the past 10 weeks. Photo: Jonathan Wong

Burberry Group's flagging sales growth suggests an end to a three-year rally in the luxury-goods industry as wealthy shoppers cut back on past indulgences.

13 Sep 2012 - 4:53am

Global retail report says Hong Kong is most expensive place for shop rents

A shortage of shopping space and catering to cash-rich mainlanders has seen rents soar. Photo: Bloomberg

Hong Kong is the most expensive place in the world for shop rents, according to property consultants Cushman & Wakefield.

A dearth of prime shopping space and the lure of big-spending mainland tourists has driven up top rentals in key precincts to over US$927 per sq ft per year, says Cushman.

12 Sep 2012 - 10:38am