S. Culture International Holdings Ltd., saw a 4.9 per cent increase in its revenue for the first half year, according to a filing with the Hong Kong Stock Exchange. The retailer sells footwear products, operating in Hong Kong, Taiwan and Macau. For the six months ended June 30, the company’s revenue increased to HK$282.6 million (MOP291.1 million/ US$36.45 million) from HK$269.4 million in the same period of 2015. During the first half year, the group operated two retail outlets in Macau, from which part of its increased revenue was derived due to a high return on sales in the territory considering the environment. ‘The Group had maintained a comparable scale from its retail networks in Macau to reap the highest return amid the current level of economic conditions experienced in Macau,’ the statement notes. The Group, in the first half of the year, opened one retail outlet in Hong Kong and four new outlets in Mainland China, while closing three in Taiwan, during the period. Currently, the group operates 74 outlets in Hong Kong, two in Macau, six in Mainland China and 48 in Taiwan. The brand showed an ‘encouraging performance’ from its sales of The Flexx brand, maintaining growth in sales of 11.5 per cent during the period. Additionally its Clarks footwear products increased 10.5 per cent in sales as well as its Josef Seibel footwear – increasing 19.5 per cent during the period. ‘Looking forward, the global economy was clouded under uncertain economic and political outlook with a slowdown and adjustment in the economy of Mainland China. At this juncture, we remained cautious in rationalising the existing mix and network of our retail outlets against the high costs of operations,’ notes the group in its release.
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