Into the fitting room

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Clothing retailers in the MSAR are starting to come out of the slump that accompanied the dip in gaming revenues – although they aren’t out of the cold yet as major retailers like Coach and Esprit see continued year-on-year dips in revenue for the first three months of the year.
Luxury accessory and lifestyle retailer Coach saw its sales increase in the Greater China region offset by ‘continued softness’ in both the MSAR and Hong Kong markets, driving a 2 per cent year-on-year decline in sales during the first three months of the year, according to the group’s filing with the Hong Kong Stock Exchange. The group operates a total of 197 shops in the Greater China region, having opened seven new shops in the first quarter of 2017 and closing one in the same period.
Clothing manufacturer Esprit likewise saw a downturn in its results for the Asia Pacific region (without supplying a China breakdown), seeing a 20.1 per cent drop in its revenue from the region in the first three months of the year, from a region that contributed 13.7 per cent of the group’s overall revenue for the period.
On the flipside, however, the group’s eshop sales increased 39.9 per cent year-on-year in the quarter in China, overshadowing the 12.7 per cent year-on-year growth of the segment in Asia Pacific during the same period.
In the first quarter of the year garments and footwear saw a 3.2 per cent year-on-year increase in value imported, while handbags and wallets increased 21.6 per cent year-on-year, according to Statistics and Census Service data.