I.T posted stable growth in Q1


The comparable store sales growth of I.T Ltd. in Hong Kong remained unchanged in the first quarter of 2016, ended May 31, 2016, despite fluctuations in the economy. Sales in Mainland China and Japan, on the other hand, posted considerable growth, according to the company’s filing with the Hong Kong Stock Exchange last Friday.
The company enjoyed 6.6 per cent and 32.9 per cent increases in comparable store sales quarter-on-quarter in Mainland China and Japan respectively. The growth for Mainland China was attributable to further enhancements in their brand equity and a broadening of their brand awareness, while the rise in tourist flow favoured the performance of the segment in Japan, according to the unaudited fiscal year 2016/2017 first quarter trading update.
Exact figures are not supplied by the quarterly report, but the total retail sales of the company for the first half ended August 31, 2015 were HK$3.4 billion (US$400 million), with an increase of six per cent in the Macau segment, but a decline of four per cent in Hong Kong half-on-half. As of February 28, 2015, I.T Ltd owned 11 stores in Macau and 266 stores in Hong Kong, according to the annual report for the fiscal year 2015/2016. C.U.